UPDATE 1-Disney to pump $452 mln into HK theme park
By : * Disney to invest $452 mln, convert loan to equity
Date posted :2009-06-30 04:53:00
* HK govt to convert debt to equity, but inject no new funds
* Deal will leave HK as majority stakeholder with 52 pct
* Seen as necessary to compete with rival park in Shanghai (Recasts with fresh quotes, details of plan)
By James Pomfret
HONG KONG, June 30 (Reuters) - Hong Kong said on Tuesday the Walt Disney Co (DIS.N) will invest $452 million to expand its Hong Kong theme park, seen as necessary to bolster the park's long-term prospects against a planned rival park in Shanghai.
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