MOSCOW (Sputnik) – The sale of the 31-year-old circus to TPG VII CDS Holdings and Chinese investment company Fosun Capital Group was approved by Canada’s federal government on June 30.
"With the assistance of our new partners, we have already begun laying the groundwork for the global expansion of the Cirque du Soleil brand, as evidenced by our recently announced growth plans in Asia," Daniel Lamarre, president and CEO of Cirque du Soleil, said in a Wednesday statement, as quoted by CBC.
TPG acquired 60 percent of Cirque du Soleil shares, while Fosun bought a 20 percent stake. Caisse de depot et placement du Quebec, a Quebec pension fund manager, has a 10 percent stake, while one of the circus’s founders, Guy Laliberte, will maintain a 10 percent stake in the company.
The buyers have agreed to keep the Cirque du Soleil headquarters in Montreal and to ensure that at least 70 percent of the circus’s senior management in Canada is Canadian.
Cirque du Soleil was founded by two former street performers, Guy Laliberte and Gilles Ste-Croix in 1984 in Quebec. The circus expanded rapidly, becoming the largest theatrical producer in the world. It has received multiple prizes, including a Rose d’Or, three Gemini Awards and a star on the Hollywood Walk of Fame.
Cirque du Soleil shows combine various circus styles with each having a particular central theme and storyline. Some of the shows are permanent, such as the Las Vegas-based "Mystere," "Zumanity" and "O," while other performances, including "Kooza," "OvO," and "Totem," are touring.