Disney's Shanghai park to take months to finalize -source

Tue Nov 3, 2009 8:35pm EST
 
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* Final deal coming in months -source

* Beijing setting guidelines -source

* Financial structures not finalized -source

LOS ANGELES, Nov 3 (Reuters) - Walt Disney Co (DIS.N), which on Tuesday said it had won long-awaited central Chinese government approval to build a theme park in Shanghai, will take a few months to nail down details of the deal with partners, a source close to Disney said.

Details that need to be finalized include the proportion of ownership of the park, to be split between Disney and its unnamed partners, which may include arms of the government, the source told Reuters on condition of anonymity because negotiations were still ongoing.

In the meantime, the central government in Beijing has handed down certain guidelines it wanted followed on the financial structure of the deal as well as requirements on the infrastructure needs from energy to transport, the source said without elaborating.

Disney spokesmen would not comment on details of any prospective deal. (Reporting by Sue Zeidler; Editing by Phil Berlowitz)

 

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