Cirque sells majority stake
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.