Shares in debt-saddled Euro Disney shares dive as it seeks cash from parent company

Industries Associated Press

Debt-laden Euro Disney's stock price is plunging after it announced a plan for its parent company to inject 1 billion euros ($1.26 billion) to try to boost its finances.

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Euro Disney SCA is the operator of Disneyland Paris, one of Europe's biggest tourist attractions. It has struggled for years with debt, and has seen the number of visitors decline recently amid Europe's repeated recessions.

The company on Monday announced a plan for the California-based Walt Disney Company to put 1 billion euros into Euro Disney. The aim is to give Euro Disney more money to invest in the amusement park.

Shares opened sharply down Monday morning in Paris trading and immediately fell more than 23 percent to 2.77 euros.