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| Author: | Mills, R. Debono, J.D. Debono, V.D. |
| Title: | Euro Disney: A Mickey Mouse Project? |
| Journal: | European Management Journal
1994 : ,Vol.12;3,p.306-314 |
| Index terms: | INVESTMENT ANALYSIS SHARE VALUATION FRANCE |
| Language: | eng |
| Abstract: | In this Case Study of Walt Disney's investment in a theme park near Paris, Roger Mills, James and Victoria Dimech Debono document the unfavourable economic conditions and overoptimistic projections that caused the successful launch of the project in 1992 to quickly turn sour. By using a Shareholder Value Analysis model they then show how estimates of shareholder value per share , based on information in the original prospectus, are drastically revised downwards as more realistic assumptions, like total debt owed, are built into the valuation model. In March 1994 a major financial restructuring plan was agreed with Euro Disney's banks - but was this another Disney fantasy? |
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