Euro Disney’s attempts to restructure its €2.4bn ($3.2bn) debt mountain received a boost on Tuesday when Prince Alwaleed bin Talal, the Saudi prince who owns 16 per cent of the theme park operator, said he would subscribe to the group’s planned €250m rights issue.

However, the prince’s stake in the theme-park operator will shrink once the rights issue is completed. He plans to invest up to €25m in the offering, but would need to buy about €40m of the new shares to maintain his stake at its current level.