Cirque du Soleil Entertainment Group has filed for protection from its creditors as part of a restructuring that includes a “stalking horse” purchase agreement with existing shareholders and Investissement Québec.
- Existing shareholders including TPG, Fosun, and Caisse de dépôt et placement du Québec will acquire company’s assets for a combination of cash, debt, and equity as well as establish two funds totaling $20m to provide additional relief to impacted employees and independent contractors
- Purchase agreement sets minimum acceptable bid for an auction of the company under court supervision
- Sponsors will inject $300m of liquidity into the restructured business to support ...