The founder of the Cirque du Soleil, Guy Laliberté has sold his last remaining shares of the entertainment company to the Caisse de dépôt et placement du Québec (CDPQ), according to a press release.
“I am happy that my share of Cirque du Soleil, which I founded 35 years ago, is going to Québec interests,”said Guy Laliberté, the founder of Cirque du Soleil. “I will continue to be involved in the creative process for shows and, more importantly, in supporting and contributing to the reach of Québec’s entertainment industry through my other projects.”
With the purchase of Laliberté’s 10 per cent stake in the company, the CDPQ has increased their stake to about 20 per cent. The CDPQ had previously became a shareholder in the Cirque du Soleil back in 2015.
“We are happy to strengthen our presence among shareholders of Cirque du Soleil, an iconic entertainment brand with worldwide renown,” said Charles Emond, the president and chief executive officer of CDPQ, in a press release. “CDPQ intends to continue backing Cirque du Soleil in its development projects that have showcased Quebecers’ creativity and expertise for several decades.”
The cost of the purchase was not specified.
Laliberté sold 90 per cent of his stake in Cirque du Soleil in 2015. He sold 60 per cent to TPG Capital, a private equity firm based in San Francisco, 20 per cent to Fosun Capital Group, which is based in Shangai, and 10 per cent to the CDPQ.
With files from CBC News