Cirque du Soleil sold to Texas and Chinese interests

cirque-du-soleil-la-nouba-00

Cirque du Soleil, a Quebec side-show tent concept that became the international show business pride of Canada, will soon move into the hands of a Texas private equity firm, TPG Capital, and a minority partner Fosun Capital of Shanghai China. The Quebec government’s Caisse de Depot is said to be part of the deal, to help ease political concerns. The Quebec Liberal government has publicly called for Cirque du Soleil to retain local ownership. Sources said TPG Capital agreed to preserve Cirque du Soleil’s headquarters in Montreal, and the local staff of close to 1,600 people. Laliberté announced he wanted to sell 90% of the company in late March. The deal is less than the $2 billion that he had been seeking, according to the report.