Cirque du Soleil confirmed Monday its sale to a group of international investors headed by U.S. private-equity firm TPG for an amount not revealed but that is estimated at around $1.5 billion.
Though the details of the sale have not been made public, sources close to the famed circus told Efe-Dow Jones last week that TPG will acquire the majority holding of Cirque du Soleil while the Chinese investment group Fosun and the Canadian financial institution Caisse de Depot et Placement du Quebec will have minority stakes.
At the same time, the current majority owner of Cirque du Soleil and one of its founders, Guy Laliberte, will hold onto a minority share "and will continue to provide strategic and creative input to the company," according to a communique issued by Cirque du Soleil.
"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," Laliberte said in the communique.
Meanwhile TPG partner David Trujillo said that "we are excited about the opportunity to bring our global platform of resources and know-how to propel the growth of Cirque's unique brand, content and capabilities around the world."
Cirque du Soleil Confirms Sale to International Investors
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