Hong Kong to expand stake in Disneyland

July 10, 2009 The Hong Kong Legislative Council Finance Committee on Friday approved an increase in Hong Kong government's equity in the joint venture with Walt Disney Co., through conversion of HK$6.25 billion ($806 million) of an existing loan to shares, for the expansion development of Hong Kong Disneyland in the next five years. The Hong Kong has already provided $420 million in equity and $725 million as a loan to the joint venture with the Walt Disney Co. since 1999, and has spent $1.4 billion on reclamation fees and related community facilities, along with $194 million to acquire 18.7 hectares of land adjacent to the site. The Hong Kong Disneyland site now amounts to 125.4 hectares, but only 72 of those are used for the existing theme park, including four themed areas and two hotels.

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