The Walt Disney Company, at a crisis meeting today, unveiled a 1 billion euro bailout plan for Disneyland Paris. The plan includes a cash infusion of â‚¬420 million (US$526 million) by US parent company Disney and a conversion of â‚¬600 million of debt owed to Disney into equity. The news of the bailout sent Euro Disney shares plummeting on the Paris stock market. In a statement a spokesperson from Walt Disney said, â€œThis recapitalization plan would improve Euro Disney Groupâ€™s financial position and enable it to continue investing in the guest experience. With this effort, we are demonstrating The Walt Disney Companyâ€™s continued confidence in Disneyland Paris, which remains the number one tourist destination in Europe." Euro Disneyâ€™s second largest shareholder, Saudi prince Al-Waleed bin Talal bin Abdulaziz al Saud, who owns 10% has said he approves the cash injection, the prince has not yet decided whether he will subscribe to the increase in capital. If the other Euro Disney shareholders decide not to back the emergency bailout terms, Walt Disney is committed to taking back control of the whole company.