Cirque du Soleil finds new strategic majority partner in TPG-led investor group
Guy Laliberté to continue creative advisor status and maintain ownership stake
Strong commitments to
Transaction provides financial strength to support global growth of
Fosun and TPG to target
Caisse de dépôt et placement du
"After 30 years building the Cirque du Soleil brand, we have now found the right partners in TPG, Fosun and the Caisse to take
"We are excited about the opportunity to bring our global platform of resources and know-how to propel the growth of Cirque's unique brand, content and capabilities around the world," said
Guy Laliberté and his team have grown
"Our partners believe in
TPG is one of the world's leading private investment firms, with its largest office in
The combined expertise and resources of the TPG-led investor group offer compelling opportunities to broaden the creative reach of Cirque for the benefit of all stakeholders, including:
- New revenue opportunities through TPG's deep experience building iconic consumer brands and strong media and entertainment relationships;
- Greater reach and access to large new audiences in
China and other Asian markets forCirque du Soleil 's shows; and - Expanded offerings with third-party intellectual property deals, increased licensing, digital media and ticket sales.
The transaction is subject to customary closing conditions, and is expected to close in the third quarter 2015.
Commitments to
As part of the transaction, the investors are committing to a comprehensive package of binding undertakings that will ensure that
- Ensure that Cirque's headquarters in
Montréal, Québec remain the centre for creative and artistic services for the business and locus of strategic decision-making; - Continuing to support the growth of
Cirque du Soleil 's core business, while expanding job and training opportunities for employees based inQuébec and acrossCanada ; - Significant
Québec and Canadian presence on the leadership team ofCirque du Soleil and its Board of Directors; and - Active support of the continued growth and vitality of
Québec 's flourishing creative arts community through funding to cultural and community organizations, continued support of Cirque du Monde, and maintaining funding for the research activities of C:LAB, the creative laboratory ofCirque du Soleil .
Advisors
Goldman, Sachs & Co. acted as exclusive financial advisor to
About
<b>About TPG
TPG is a leading global private investment firm founded in 1992 with over
About Fosun
Fosun was founded in 1992 in
About La Caisse de dépôt et placement du
La Caisse de dépôt et placement du
SOURCE
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