Ropes, Cleary, Paul Hastings on Cirque du Soleil Deal
U.S. private equity giant TPG Capital and Shanghai-based Fosun International are buying into the Canadian entertainment company and plan to launch the business in China.
April 22, 2015 at 01:10 AM
2 minute read
Ropes & Gray, Cleary Gottlieb Steen & Hamilton and Paul Hastings are advising a consortium of investors led by U.S. private equity giant TPG Capital on its investment in Montreal-based entertainment company Cirque du Soleil.
Financial terms were not disclosed but Reuters cited sources familiar with the matter that said the investment values Cirque du Soleil at $1.5 billion.
TPG is taking a majority stake in Cirque du Soleil, while privately held Chinese conglomerate Fosun International Ltd. will purchase a minority share. Canadian pension fund Caisse de dépôt et placement du Québec is also purchasing a minority share. They will each control a 60 percent, 20 percent and 10 percent stake, respectively, according to Reuters. Company founder Guy Laliberté will retain a 10 percent holding.
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