Firms named in Eurodisney bailout
16th October 2014
The firms that have been called up to give legal advice in the Eurodisney bailout have been announced as New York-based international law firms Sullivan & Cromwell and Cleary Gottlieb Steen & Hamilton, as well as London-headquartered Freshfields Bruckhaus Deringer.
The bailout, which is reported to be costing €1bn (£790m), will see parent company Walt Disney input €400m (£317m) in addition to €600m (£477m) of the debt swapped into shares in the US group. Senior counsel Patrick Bonvarlet and associates Seela Apaya-Gadabaya, Catherine Naroz and Marine Le Quillec hold the top lawyer jobs from Sullivan's Paris-based team, who will be advising Eurodisney according to this article.
The bailout, which has been closely watched by the media of late, will see the three firms advising on one of the biggest rescue packages of its kind in recent years. With a number of high-profile investors pledging to back the multi-million rescue deal, including that of Saudi billionaire investor Prince Alwaleed, it is hoped that such deals will see Europe's most-visited tourist attraction Disneyland Paris secure enough backing to continue.
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