Shares in Euro Disney, which trades in Paris, rocketed 65.8% today after Disney announced plans to buy the interests it doesn’t already own — plus an agreement to pick up a 9% stake held by Kingdom Holding, the investment firm run by Saudi Prince Alwaleed Bin Talal.

The stock deal, paying €2.00 per share, ups Disney’s stake in Euro Disney to 85.7%. And Disney says it will offer the same price in cash for “all remaining outstanding shares of Euro Disney.” The proposal represents a 67% premium over the company’s trading price yesterday.

The entertainment giant adds that it will support a €1.5 billion recapitalization for Euro Disney so it can “continue implementation of improvements to Disneyland Paris, reduce debt and increase liquidity.”

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