Founder Guy Laliberté will bid to buy back Cirque du Soleil

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Update – Business

Cirque du Soleil founder Guy Laliberté.

Founder and Former CEO Guy Laliberté wants to get back into the circus biz.

He will bit to buy back Cirque du Soleil.

On Sunday on the popular Radio-Canada talk show Tout le monde en parle, Laliberté announced he is going to launch a bid to try to buy back the Cirque du Soleil. 

Laliberté wrote: “A few days before the registration deadline for the battle royal, I am deciding whether or not I’m going to jump into that wrestling ring. …”

On Sunday he jumped into the ring.

In 2015, Laliberté sold the Cirque du Soleil to American private equity investment firm TPG Capital, Chinese investment company Fosun and the Caisse de dépôt et placement du Québec for a reported US$1.5 billion. In late March, the Montreal-based circus laid off 95 per cent of its staff, close to 4,700 employees, after all of its shows around the world were shuttered as a result of the COVID-19 pandemic.

Senior management statement “bankruptcy protection”.

He said he already has several major financial partners lined up to work with him on the bid and he said he is not mounting the bid with TPG Capital, which is the company’s single largest shareholder. He said it is too soon to say whether he will step back in as CEO of the company, nor whether he would retain current management, including current CEO Daniel Lamarre.

Source Montreal Gazette

GUY LALIBERTE BUSINESS

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