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CDPQ increases its stake in Cirque du Soleil Entertainment Group

MONTRA?AL, Feb. 17, 2020 /CNW Telbec/ -A Caisse de dA©pA?t et placement du QuA©bec (CDPQ) announced today that it is increasing its stake in Cirque du Soleil Entertainment Group (Cirque du Soleil), a leader in the live entertainment industry. As part of this transaction, CDPQ is acquiring the holdings of the company's founder, Guy LalibertA©, who will remain involved in the company's creative process and retain economic interests. Following this investment, CDPQ will own nearly 20% of Cirque du Soleil. "We are happy to strengthen our presence among shareholders of Cirque du Soleil, an iconic entertainment brand with worldwide renown," said Charles Emond, President and Chief Executive Officer of CDPQ. "CDPQ intends to continue backing Cirque du Soleil in its development projects that have showcased Quebecers' creativity and expertise for several decades." "I am happy that my share of Cirque du Soleil, which I founded 35 years ago, is going to QuA©bec interests. I will continue to be involved in the creative process for shows and, more importantly, in supporting and contributing to the reach of QuA©bec's entertainment industry through my other projects," said Guy LalibertA©, Founder of Cirque du Soleil, the One Drop Foundation and Lune Rouge. "The transaction announced today is excellent news, as it keeps a significant QuA©bec presence among the shareholders," said Daniel Lamarre, President and Chief Executive Officer of Cirque du Soleil Entertainment Group. "It also makes me very happy and proud to be able to continue counting on Guy's expertise as a creative consultant to continue growth this company he founded in 1984."Since CDPQ became a Cirque du Soleil shareholder in 2015, the company has made three acquisitions to diversify its product offering and markets. Cirque du Soleil Entertainment Group currently employs over 4,900 people, including 1,500 in the MontrA©al head office, and has around fifty permanent and touring shows around the world.
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