Kids
Walt Disney to put in $452 mn for HK theme park
MUMBAI: Walt Disney Co will be investing $452 million for expanding its theme park in Hong Kong.
The company operates in a joint venture with Hong Kong government and is furthermore reported to invest HK $2.7 billion for converting loans in the partnership to equity.
The review came after the two-year negotiation between the company and the HK government. Meanwhile, the HK government will invest no money for the expansion of the theme park, bringing down its holding from 57 per cent to 52 per cent.
As per the expansion plan, three new theme lands with 30 new attractions will be added to the park.
Disney will also increase transparency for the HK government by disclosing its annual visitors figures and financial performance.
Disney company is also in talks with Shanghai government to build a major theme park in the city by 2014.
