The greatest treasurer in the PLC still a shareholder of Cirque du Soleil

Le grand argentier du PLC toujours actionnaire du Cirque du Soleil

The treasurer of the liberal Party of Canada (LPC) Stephen Bronfman still holds an investment of several millions in the adventure of the Cirque du Soleil, has learned The Newspaper.

While Cirque du Soleil is seeking the public authorities, both at Quebec and Ottawa, for financial assistance, the montreal businessman Stephen Bronfman himself of the money involved in the business.

The information has been confirmed from a reliable source. The site of Claridge, the holding company of the Bronfman family, identifies the Circus as one of its investments ” in progress “.

In 2015, the Circus was sold to the american fund TPG, the chinese group Fosun and the Caisse de dépôt et placement du Québec for a US $ 1.5 billion. The founder of Cirque, Guy Laliberté, kept at the time, a 10% interest in the company.

The Circus had then said that the CEO of Cirque, Daniel Lamarre and businessmen Mitch Garber and Stephen Bronfman purchased as an investment.

Guy Laliberté has since sold its shares to the Fund, but the other three persons are always present, according to our information. They would hold in the aggregate approximately 1 % of the Circus.

Stephen Bronfman is identified in Montreal at the project return of the Expos. He is also the chairman of the finance PLC. Mitch Garber, for his part, leads the organization to Invest in Canada, established by the Trudeau government.

Lobbying

However, The Newspaper has revealed that the lobbyists of the Circus have contacted no less than three federal ministers in order to obtain assistance in march.

The minister of economic Development Mélanie Joly, the minister of canadian Heritage, Steven Guilbeault and the minister of foreign Affairs François-Philippe Champage were solicited.

“Many organizations, including Cirque du Soleil, have approached the government for financial support and the applications are studied “, we said Camille Gagné-Raynauld, press attaché to the minister Guilbeault, a few weeks ago.

According to our information, the big boss of Cirque, Daniel Lamarre, would have demanded from the minister Joly changes to the wage subsidy program for businesses to the Circus to benefit from it.

Changes announced

A relaxation of the criteria of this program was announced in early April. The extension of the grant until August was announced at the beginning of may.

A press officer of the minister Joly, Alexander Cohen, has not wanted to confirm our information.

In April, The Press had reported the contents of an internal memorandum, according to which the Circus was said not to have the means of paying its employees even if the federal government reimburses part of the sum. Discussions are however ongoing with Quebec city for a loan of $ 279 million, according to TVA Nouvelles.

Stephen Bronfman has not responded to voice messages and e-mails in Claridge to comment on the situation at the Circus. The spokesperson for the Circus, Caroline Couillard, did not respond to a message.

– With the collaboration of Pierre-Olivier Zappa

THE SHAREHOLDERS OF THE CIRCUS

  • TPG (55 %)
  • FOSUN (25%)
  • CAISSE (20 %)
  • MITCH GARBER, DANIEL LAMARRE AND STEPHEN BRONFMAN

Source : Moody’s and The Journal

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