Cirque de Soleil Being Sold
CBJ – Cirque de Soleil founder Guy Laliberte is selling a majority of the famed circus group to an American private equity firm for an undisclosed sum. Laliberte will maintain a minority stake in the Montreal-based entertainment conglomerate and will continue to work on a regular basis.
Along with new owner TPG, Chinese investment firm Fosun and Quebec pension fund manager the Caisse de dépôt will hold minority stakes.
“After 30 years building the Cirque du Soleil brand, we have now found the right partners in TPG, Fosun and the Caisse to take Cirque du Soleil forward to the next stage in its evolution as a company founded on the conviction that the arts and business, together, can contribute to making a better world,” Laliberté said in a statement.
Caisse de dépôt CEO Michael Sabia said it is partnering with Cirque as it seeks to find new markets for its entertainment brand.