Hong Kong Nears Deal with Disney To Expand Hong Kong Disneyland

Photo Courtesy of Hong Kong Disneyland

Hong Kong is nearing a deal with Walt Disney Co. to expand the city’s Disneyland park in an agreement that will allow the government to keep a controlling stake in the venture, media sources reported Saturday.

The Hong Kong government and Disney have been in long-drawn-out discussions over financing an expansion to the first phase of Hong Kong Disneyland, which are 54%-owned by the government and 46%-owned by Disney.

As part of the proposed agreement, Disney would finance the expansion project, while the government would convert earlier loans to the joint venture into equity in order to keep a controlling stake

From RTT Global Financial Newswire