Cirque sells ma­jor­ity stake

Los Angeles Times - - CALENDAR - — David Ng

Cirque du Soleil, the Mon­treal com­pany known for its grav­ity-de­fy­ing stunts, an­nounced on Mon­day that it is sell­ing a ma­jor­ity stake to global pri­vate eq­uity firm TPG.

Cirque also will sell stakes to China-based Fo­sun and a Canadian pen­sion fund. Cirque said the Fo­sun in­vest­ment will broaden the com­pany’s reach into China. Guy Lal­ib­erté, the bil­lion­aire owner of Cirque, will re­tain a mi­nor­ity stake. Cirque did not dis­close fi­nan­cial de­tails of the deal.

The an­nounce­ment comes af­ter re­cent shows such as “Iris” in Los An­ge­les, “Zaia” in Ma­cau and “Viva Elvis” in Las Ve­gas were boxof­fice dis­ap­point­ments and closed ear­lier than ex­pected.

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