Cirque du Soleil, the company credited with bringing life back into the circus with its unique combination of dance, gymnastics, digital media and advanced technology to create captivating experiences, could be for sale.
Reports indicate a deal has been reached to sell the company to American private equity firm TPG Capital and China’s Fosun for an undisclosed amount. Guy Laliberté, Cirque's charismatic founder, is tipped to keep a 10 percent stake in the business.
According to the CBC/Radio-Canada, an official announcement will be made in the coming days.
The sale brings up the always touchy issue of foreign ownership of national darlings, with Quebec Premier Philippe Couillard asking Laliberté to keep the company headquarters in Montreal. “I want to tell him that for Quebecers, for the government and for all political parties represented here, it is very important not only that the headquarters remain in Montreal, but that the creative activities should also remain in Montreal,” said Couillard.
Cirque du Soleil is based in Montreal and was founded Guy Laliberté, Gilles Ste-Croix, and Daniel Gauthier in 1984.