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Cirque Du Soleil Files For Bankruptcy Protection

June 29, 2020, 4:44 PM

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 ...