Theme parks: Euro Disney on Monday announced...

Theme parks: Euro Disney on Monday announced the details of a $1.05-billion rights issue, part of a plan to restore its troubled theme park to financial health. The new shares, priced at about $1.75 each, will be offered at a parity of seven new shares for every two existing shares. The subscription period lasts from June 20 to July 11, and current shareholders will be given preference.

Euro Disney’s creditor banks have agreed to underwrite 51% of the issue, and Walt Disney Co. will subscribe to the remainder. Walt Disney owns 49% of Euro Disney.

After Euro Disney posted a loss of nearly $1 billion for 1992-93, bankers and Walt Disney announced a rescue plan that included the rights offering. Saudi Prince Al-Waleed bin Talal Ibn Abdulaziz Al Saud recently announced plans to acquire a 13% to 24% stake in the theme park.

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* Film: Ricardo Mestres, who resigned as head of Disney’s Hollywood Pictures in April to become a producer, has his first project under way. Hollywood Pictures last week bought rights to a screenplay by Gary Nadeau, who as a New York University student made a film, “Reds,” that won a student Academy Award.

The screenplay is about a child born with a genetic defect that causes him to grow--physically but not mentally--four times faster than normal. The boy tells his parents that he wants to go to school and, as a man who looks 40, he enters elementary school.