Montreal-based live entertainment company Cirque du Soleil has raised C$50 million in financing from existing shareholders TPG Capital, Caisse de dépôt et placement du Québec and Fosun. The capital infusion will address liquidity needs as a result of covid-19.
Montreal – May 4, 2020 – Cirque du Soleil Entertainment Group (Cirque du Soleil) announced today that it has raised $50 million in interim financing from existing shareholders TPG Capital, Caisse de dépôt et placement du Québec (CDPQ), and Fosun. The new capital addresses Cirque du Soleil near-term liquidity needs amid the continued disruption brought on by the COVID-19 pandemic.
This new capital will enable the company to sustain limited operations during this challenging time and will also provide bandwidth to explore and evaluate options that will allow the company to restructure.
Over the past 36 years, Cirque du Soleil has developed an expertise that is unique in the industry. Its employees are recognized worldwide for their unrivaled capacity in the field of live entertainment and its Montreal headquarters have become one of the most recognized creation centers in the world.
About Cirque du Soleil Entertainment Group
Cirque du Soleil Entertainment Group is a world leader in live entertainment. On top of producing world-renowned circus arts shows, the Canadian organization brings its creative approach to a large variety of entertainment forms such as multimedia productions, immersive experiences, theme parks and special events. Going beyond its various creations, Cirque du Soleil Entertainment Group aims to make a positive impact on people, communities and the planet with its most important tools: creativity and art. For more information about Cirque du Soleil Entertainment Group, please visit CirqueduSoleilEntertainmentGroup.com