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Cirque de Soleil sells majority stake to US, Chinese firms
(MENAFN) Canada's Cirque de Soleil, the global circus empire, announced that it has sold its majority stake to US and Chinese investment firms for an undisclosed value, Xinhua reported.
Under terms of the deal, which experts estimate to be valued at USD1.3 billion, founder of the circus empire agreed to sell control of Cirque du Soleil to TPG Capital and China's Fosun Capital Group.
The founder will maintain a stake in the business and will continue to offer strategic and creative input to the company, with Canada's Caisse de depot et placement du Quebec getting a minority stake.
"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," he added.
Under terms of the deal, which experts estimate to be valued at USD1.3 billion, founder of the circus empire agreed to sell control of Cirque du Soleil to TPG Capital and China's Fosun Capital Group.
The founder will maintain a stake in the business and will continue to offer strategic and creative input to the company, with Canada's Caisse de depot et placement du Quebec getting a minority stake.
"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," he added.
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