Is this the first step in selling off Universal's stake in theme parks? Although Universal apparently was never a majority stake holder in what had become Universal's Port Aventura theme park in Spain, Universal's new owners, GE/NBC, didn't take long to decide to sell off their holdings to the theme park Universal had invested in not too long ago. Are the US parks to follow? Who knows.....
From yahoo!:
UPDATE - Spanish savings bank buys NBC theme park stake
Friday June 18, 1:50 pm ET
MADRID, June 18 (Reuters) - Spain's biggest savings bank La Caixa said on Friday it had bought a 37 percent stake in Spanish theme park Port Aventura from for 25 million euros ($30 million), taking its total holding to 80 percent.
Antoni Brufau, director general of La Caixa, announced the price paid for the stake at a conference in Sitges near Barcelona.
The other shareholders are brewer Anheuser-Busch Cos Inc (NYSE:BUD - News) with 14 percent and Spanish toll road operator Abertis (Madrid:ABE.MC - News) with six percent.
NBC Universal is part of General Electric Co (NYSE:GE - News).
Port Aventura is one of the more successful Spanish theme parks with more than 3.5 million visitors in 2003, sales of 108 million euros ($131 million) and core earnings (before interest, tax, depreciation and amortisation) of 20 million euros.
From yahoo!:
UPDATE - Spanish savings bank buys NBC theme park stake
Friday June 18, 1:50 pm ET
MADRID, June 18 (Reuters) - Spain's biggest savings bank La Caixa said on Friday it had bought a 37 percent stake in Spanish theme park Port Aventura from for 25 million euros ($30 million), taking its total holding to 80 percent.
Antoni Brufau, director general of La Caixa, announced the price paid for the stake at a conference in Sitges near Barcelona.
The other shareholders are brewer Anheuser-Busch Cos Inc (NYSE:BUD - News) with 14 percent and Spanish toll road operator Abertis (Madrid:ABE.MC - News) with six percent.
NBC Universal is part of General Electric Co (NYSE:GE - News).
Port Aventura is one of the more successful Spanish theme parks with more than 3.5 million visitors in 2003, sales of 108 million euros ($131 million) and core earnings (before interest, tax, depreciation and amortisation) of 20 million euros.