Three of the main shareholders of the Cirque du Soleil, including the Caisse, have invested US $ 50 million (approximately $ 70 million CAD) of emergency to save the business of entertainment, has unveiled the Montreal Gazette on Tuesday night.
According to the newspaper, which spoke with the business man Mitch Garber, also a member of the board of directors of the Circus, the american firm TPG Capital, the chinese company Fosun and the Caisse de dépôt et placement du Québec have agreed to fly to the rescue of the flagship, based in Montreal.
The three entities have contributed an amount equivalent to their share in the Circus, or 27.5 million US $ for TPG (55 %), 12.5 million US $ to Fosun (25 %) and US $ 10 million to the Caisse (20 %).
This amount will stabilize the activities of the Circus in the short term. Note that, because of the pandemic of COVID-19, the company has had to cancel all his shows anywhere in the world and lay off virtually all its employees.
“The next phase will probably be that the Circus is going to seek new capital. It might come with the offer of purchase”, has referred to Mr. Garber in his interview with the English daily.
This declaration occurs in the wake of the interest shown by Quebecor to inject hundreds of millions of dollars in Cirque du Soleil. However, the media company has warned that it will not go ahead before being able to see the financial statements of the Cirque du Soleil.
Mitch Keep told the Montreal Gazette that the Circus did not disclose its financial statements to Quebecor, because the latter would not have committed to sign a confidentiality agreement. He also said be ready to analyze a possible offer from Quebecor.