Cirque du Soleil founder wants to buy back the company

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Cirque du Soleil founder wants to buy back the company

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Cirque du soleil founder Man Laliberte says he needs to purchase again the internationally celebrated circus firm he created greater than 35 years in the past.

Laliberte, who bought his remaining shares within the famed circus final February, instructed a well-liked tv present Sunday evening he needs to place an possession crew collectively and purchase the corporate again.

“In the present day, I took the choice to embark on the buying course of,” he stated on Radio-Canada’s Tout le monde en parle. The circus, nevertheless, owes greater than $1.25 billion to collectors and has been shut down for the reason that begin of the COVID-19 pandemic.

Laliberte stated the circus firm he created in 1984 “gave me a lot and if I can assist, we’ll be there.”

He bought the 10 per cent he had remaining within the firm to Quebec’s pension fund, Caisse de depot et placement du Quebec, final February. The quantity wasn’t made public however the worth of that block of shares has been estimated at greater than $100 million.

Theatre administrators Franco Dragone of Italy, and Robert Lepage of Quebec have each proven curiosity, Laliberte stated, in relaunching the Cirque du soleil.

The Quebec authorities has signalled it was prepared to assist the circus financially. Economic system Minister Pierre Fitzgibbon confirmed final week the provincial authorities was in talks with potential traders.

Montreal-based media big Quebecor has additionally voiced a want to purchase a stake within the firm.

Laliberte stated his intention was to maintain the headquarters of the celebrated circus in Montreal and to rent primarily Quebecers to run the corporate.

The Cirque du soleil lately obtained an pressing injection of funds to assist bridge the corporate by means of the disaster and pay again collectors. Its three principal shareholders — TPG Capital, Chinese language firm Fosun and the Caisse — gave it about $70 million.

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