Cirque Sale Is Official Venues Today (04/21/15) Deckard, Linda
Cirque du Soleil recently announced its sale to a shareholder coalition that includes TPG, Fosun, and Caisse de depot et placement du Quebec, at an estimated cost of $1.5 billion to $2 billion, according to various press reports. Boosting the company's growth and market penetration, with a special emphasis on the Chinese market, is the goal of the change of ownership. "We have an objective to become one of the global leaders in businesses driven by lifestyle needs, which are quickly taking root in China," says Fosun chairman Guo Guangchang. "The performances of Cirque are very attractive and are a standard bearer for the quality content expected by global citizens. We envisage deeper cooperation with Cirque and are excited to have Cirque as a major new growth platform within our lifestyle services and content portfolio." Cirque tour ticket sales director Eric Valley says there are plenty of partners dedicated to Cirque's expansion, and all current projects are moving ahead. He also dispels the assumption by observers that Cirque experienced exponential growth and has now matured. Valley and Cirque arena tour planning director Dave Pitman are already planning tours three and five years out in the interest of more efficiency.