Cirque du Soleil sold to foreign investors

Cirque du Soleil sold to foreign investors

Montreal (Quebec) 16 April 2015 – Following up on a story we posted last month about Cirque du Soleil being for sale and that maybe Quebec should invest in the company to keep its roots in the province, the deal has finally gone through. The deal however didn’t turn out as predicted, and the company has been bought out by an American investment firm together with a Chinese financial Group.

TPG, an American investment firm based in Texas has become the major-shareholder of the “Cirque”, with Fosun Capital Group out of Shanghai, sharing the profits as well. TPG owns, among other properties, Fairmont Hotels, Uber, and all the Spanish language television stations in the US. Fosun owns Focus media in China, Club Med, and some other administrative operations throughout the world. TPG (Texas Pacific Group) and Fosun Capital have done business deals together before and have investments all over the globe.

As for the previous owner and founder of Cirque du Soleil, Guy Laliberté, he holds onto 10% of the company’s profits together with La Caisse de Dépot du Quebec who hangs onto another 10%.

The deal assures the continuation of the Cirque pretty much the way it is now, with the head office remaining in Montreal and Daniel Lamarre being retained as CEO.

Employees do not seem worried about losing their jobs and even complimented M. Laliberté as being a highly respected individual by everyone who worked for him.

Cirque du Soleil was founded in 1983, and up until yesterday was owned 90% by Guy Laliberté and 10% by a Dubai interest.

The price of the buyout is estimated at around $1 billion.

Categories: Arts & Culture, Business, News

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