Tom Donoghue/DonoghuePhotography.com
Guy Laliberte and Claudia Barilla arrive on the blue carpet for Cirque du Soleil’s “One Night for One Drop” at Hyde Bellagio on Friday, March 22, 2013.
Tuesday, June 30, 2015 | 10 p.m.
OTTAWA, Ontario — The Canadian government has approved the sale of Cirque du Soleil to a group headed by a U.S. private equity firm and its Chinese partners.
Industry Minister James Moore said Tuesday the application to acquire the famed circus troupe was deemed an overall economic benefit for Canada.
The buyers have committed to maintain the Cirque's strategic decision-making and creative and artistic development at its Montreal headquarters.
It is known for its cutting-edge shows that feature aerialists, acrobats and contortionists. Founder Guy Laliberte announced in April that he was selling a majority stake for an undisclosed price. The deal was reported by multiple media outlets to be worth about $1.5 billion.
TPG is acquiring a 60 percent stake, Chinese investment firm Fosun will own a 20 percent stake and Quebec pension fund manager the Caisse de depot another 10 percent. Laliberte maintains 10 percent.
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