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Disney close to investing more capital in HK: source

Thu May 7, 2009 10:50pm EDT

HONG KONG/LOS ANGELES (Reuters) - The Walt Disney Co is close to agreeing to invest more capital in Hong Kong Disneyland and allow the island's government to convert its loans to equity to maintain its majority share of the theme park, a source involved in the talks said.

If Disney and Hong Kong's government, which now owns 57 percent of the underperforming and much-maligned resort, can close a deal, it could pave the way for an expansion that is estimated will cost HK$3 billion ($387 million) and boost flagging attendance.

(Reporting by James Pomfret and Gina Keating in Los Angeles; Editing by Nick Macfie)


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