Euro Disney took another step towards implementing an ambitious financial restructuring yesterday when shareholders approved plans to launch a €250m ($332.4m) rights issue in the new year. The rights issue is a key component in the restructuring of €2.4bn of debt. The Paris theme park operator has until the end of March to complete the launch but yesterday expressed confidence that it would do so.

Walt Disney, Euro Disney's largest shareholder, has subscribed to 40 per cent of the issue. "It's a strong vote of confidence in what we're doing," said Jeff Speed, finance director. Ninety per cent of shareholders approved the rights issue plan and also heard how the company aims to attract more visitors.