Tuesday, April 21, 2015

Cirque du Soleil is SOLD ... Guy Laliberte Self-Liberates for Personal Freedom and Family ... China Market Remains the Goal

From CirqCharlie Rivel, dated today:

Cirque du Soleil confirmed its sale to a group of international investors led by US firm TPG, for an undisclosed but is estimated at 1,500 million. Although the details of the transaction are not public, sources close to the institution forward last week Efe-Dow Jones TPG will become the majority shareholder of Cirque du Soleil, while Chinese investment group Fosun and Canadian financial institution Caisse de dépôt et placement du Québec have minority stakes. Furthermore, current majority owner of Cirque du Soleil and one of its founders, Guy Laliberté, will retain a minority stake "and continue to provide a strategic and creative contribution to the company," according to a statement released by Cirque du Soleil statement. "After 30 years building the brand of Cirque du Soleil, we have found the right partner at TPG, Fosun and Caisse to bring the Cirque du Soleil towards its next stage in its evolution as a company created with the belief that the arts and business can, together contribute to making the world better, "Laliberte said in the statement. For his part, David Trujillo, a partner at TPG, said that the firm is "excited about the opportunity" to use its global platform of resources and expertise "to propel growth worldwide in the particular brand, content and capabilities Circus ".

Guy Laliberte speaks:

I watched a three minute video, connected to the release, (interrupted by commercials, a current problem on my PC).  Laliberte was very animated and passionate, stressing that he wants to be with and focus on his kids, to help them each reach their passion.

Sounds like they are not up for following him, and he feels emotionally burned out, or irrelevant to his own operation.  He even hinted at maybe someday wanting to buy it back.

He seemed very forthcoming, perhaps more openly expressive than he has ever been. 

My gut feeling is that he may feel a sense of not knowing where to go with the show, that its future is beyond his control and grasp, and decided it would be better to get out  now.

Although, he retains, it appears, a leading position as planner.

He told another source, the Financial Post:  “In all consciousness and with a rigorous personal reflection and corporate reflection, I believe I am making the best decision for Cirque du Soleil and its future, and the best decision for myself and my family.”


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