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Article: EURO DISNEY'S PRINCE HAS COME SAUDI INVESTOR PLEDGES UP TO $500 MILLION TO BAIL OUT AILING FRENCH THEME PARK NEW CONVENTION COMPLEX IS PLANNED TO DRAW BUSINESS VISITORS.(BUSINESS)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- June 2, 1994
CopyrightCOPYRIGHT 1994 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JOHN HORN Associated Press
BURBANK, Calif. A Saudi Arabian prince swooped in to help rescue the struggling Euro Disney theme park Wednesday, pledging to invest up to $500 million in Mickey Mouse's European home.
The investment by Prince Al-Waleed Bin Talal Bin Abdulaziz Al Saud includes a commitment to build a convention center to attract more business visitors to the park.
The 37-year-old American-educated prince is a nephew of King Fahd. He has attracted attention in the past for his investments in other famous U.S. companies.
In 1991, he bought a 14.88 percent stake in Citicorp for about $800 million, making him the ...