Cirque du Soleil Being Sold to TPG-Led Private Equity Group
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Performers from the Cirque du Soleil show “Amaluna” last year in New York. CreditJulieta Cervantes for The New York Times
OTTAWA — Like many a Vegas act, Cirque du Soleil had become a bit flabby and passé. But a group of investors is betting that China — and more important, its growing demand for Western entertainment — may be an answer to the circus troupe’s midlife ennui.
On Monday, a consortium of private equity investors led by TPG agreed to buy Cirque du Soleil for 1.5 billion Canadian dollars, a purchase that will pave the way for the company to expand into China.
One of the buyers, Fosun of China, is heavily invested in entertainment and travel businesses, including the recent purchase of Club Med. The plan is to open a Cirque office in China…
Cirque du Soleil Being Sold to TPG-Led Private Equity Group
