:strip_icc()/i.s3.glbimg.com/v1/AUTH_59edd422c0c84a879bd37670ae4f538a/internal_photos/bs/2018/B/r/Uunq7vQhWbRJn6gpu30A/ovo-2handbalancing-4-.jpg "Cirque du Soleil wins 0 million in aid from the Canadian government | pop-art")
Cirque du Soleil, whose arena is empty due to the coronavirus pandemic, will receive $200 million in aid from the Canadian province of Quebec, an official announced on Tuesday, as part of efforts to revive the group international entertainment.
Quebec Economy Minister Pierre Fitzgibbon said the province has reached an agreement to buy a majority stake in Montreal-based Cirque du Soleil if shareholders TPG and Chinese conglomerate Fosun International decide to pull out.
The heavily indebted group was considering filing for bankruptcy in March and laid off most of its employees after social distancing imposed by the coronavirus pandemic forced the cancellation of several shows.
“The deal is that when shareholders, Chinese partner Fosun and TPG want to sell, we want the call option,” Fitzgibbon told reporters in Quebec City.
“Of course, at that time we will find someone to manage it. It is not the intention of the Minister of Economy to manage Cirque du Soleil, I can guarantee that. At the same time, I want to control who is going to buy it. Because if we don’t have this clause, TPG or whoever it is can sell the circus to anyone”.
On Sunday, Cirque du Solei founder Guy Laliberté told a broadcaster that he and a group of investors wanted to buy the circus company.
Mom watches her son’s first Cirque du Soleil show for the first time
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