Canadian government approves sale of Cirque du Soleil to US-led consortium
The Canadian government has approved the sale of Cirque du Soleil to a consortium led by US-based investment firm TPG Capital for a fee thought to be around US$1.5bn (€1.37bn £972m).
TPG Capital will be the majority shareholder in the sale of the entertainment brand, with Chinese partner Fosun taking a further 20 per cent share. The remaining share allocation will be divided between Cirque du Soleil founder Guy Laliberte and Quebec-based pension fund Caisse de depot at 10 per cent each.
According to Canada’s industry minister, James Moore, the sale of the government-owned attraction will benefit the country economically, with part of the deal also confirming that Canadians will retain key positions within the company.
A statement from TPG Capital said the company would “ensure that at least 70 per cent of Cirque's senior management in Canada is Canadian, maintain significant Canadian presence on the leadership team of Cirque du Soleil and on its board of directors.”
Over the 30 years Cirque du Soleil has existed, the brand has, welcomed more than 155 million spectators in 330 cities and 40 different countries. In recent times the brand has struggled financially, and in 2006 began efforts to attract a new partner. More recently, the brand has announced plans for a major theme park in Mexico, partnered with PortAventura in Spain and unveiled a multi-sensory gastronomic concept in Ibiza.
Cirque du Soleil founder Guy Laliberté partners with Ferran and Albert Adrià to create Heart Ibiza, a multi-sensory gastronomic concept
Cirque du Soleil plans first-of-its-kind Mexico theme park
Cirque du Soleil and PortAventura foresee lasting relationship
Mexico to become home to resident Cirque du Soleil show
FEATURE: Theme Parks – Kooza Came to Town
UAE’s first Dior Spa debuts in Dubai at Dorchester Collection’s newest hotel, The Lana
Europe's premier Evian Spa unveiled at Hôtel Royal in France
Clinique La Prairie unveils health resort in China after two-year project
GoCo Health Innovation City in Sweden plans to lead the world in delivering wellness and new science
Four Seasons announces luxury wellness resort and residences at Amaala
Aman sister brand Janu debuts in Tokyo with four-floor urban wellness retreat
€38m geothermal spa and leisure centre to revitalise Croatian city of Bjelovar
Two Santani eco-friendly wellness resorts coming to Oman, partnered with Omran Group
Kerzner shows confidence in its Siro wellness hotel concept, revealing plans to open 100
Ritz-Carlton, Portland unveils skyline spa inspired by unfolding petals of a rose
Rogers Stirk Harbour & Partners are just one of the names behind The Emory hotel London and Surrenne private members club
Peninsula Hot Springs unveils AUS$11.7m sister site in Australian outback
IWBI creates WELL for residential programme to inspire healthy living environments
Conrad Orlando unveils water-inspired spa oasis amid billion-dollar Evermore Resort complex
Studio A+ realises striking urban hot springs retreat in China's Shanxi Province
Populous reveals plans for major e-sports arena in Saudi Arabia
Wake The Tiger launches new 1,000sq m expansion
Othership CEO envisions its urban bathhouses in every city in North America
Merlin teams up with Hasbro and Lego to create Peppa Pig experiences
SHA Wellness unveils highly-anticipated Mexico outpost
One&Only One Za’abeel opens in Dubai featuring striking design by Nikken Sekkei
Luxury spa hotel, Calcot Manor, creates new Grain Store health club
'World's largest' indoor ski centre by 10 Design slated to open in 2025
Murrayshall Country Estate awarded planning permission for multi-million-pound spa and leisure centre
Aman's Janu hotel by Pelli Clarke & Partners will have 4,000sq m of wellness space
Therme Group confirms Incheon Golden Harbor location for South Korean wellbeing resort
Universal Studios eyes the UK for first European resort
King of Bhutan unveils masterplan for Mindfulness City, designed by BIG, Arup and Cistri
Rural locations are the next frontier for expansion for the health club sector
Tonik Associates designs new suburban model for high-end Third Space health and wellness club
Bionic leaves, breathable metals and selfgrowing bricks... Biomimicry in architecture has come a long way. Christopher DeWolf takes a look at the latest advances