globalnews.ca
39%
819
Cirque du Soleil creditors poised to take over company, leaving Quebec without a stake
It established a baseline bid that set the minimum conditions for any rival proposals.Cirque’s three current shareholders — TPG Capital, Chinese firm Fosun and the Caisse de depot et placement du Quebec — had presented a US$420-million bid — now rejected — when Cirque filed for creditor protection in June.The Montreal-based Cirque, which originated as a troupe of fire-breathers and stilt-walkers, is on the verge of losing the last Quebec-based shareholder, the Caisse, in one of the province’s signature cultural brands.Co-founder Guy Laliberté sold off his remaining shares to the Caisse for US$75 million in February just before the COVID-19 pandemic hit North America.Since then, the Quebec pension fund has written down its US$170-million