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Walt to help cash strapped Euro Disney in billion euro funding deal

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Walt to help cash strapped Euro Disney in billion euro funding deal

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Euro Disney has agreed a one billion euro funding deal supported by its largest shareholder Walt Disney Co.

The plan includes a share sale and debt restructuring to allow the company to pump some cash into the ailing business.

Walt Disney Co owns 40 percent of the leisure complex with 10 percent in the hands of Saudi Prince AlWaleed bin Talal.

The tourist attraction has been hit by the financial crisis and despite being one of the biggest draws in Europe it has debts of around 1.75 billion euros.

It is an unwelcome reality check for the kingdom of fantasy.