There’s an interesting article out of London about Cirque du Soleil and its future prospects. Within the article, Guy Laliberte is quoted to be interested in selling another 10% of Cirque du Soleil to another strategic partner. With 20% already in the hands of Istithmar World Capital/Nakeel, why another 10%?
“There has been no contribution to growth from that partner,” said Laliberté. “I sold to them to have a partner who was heavily expanding in real estate but from the moment I got the cheque to the month afterwards everything was totally different so I was just left with the money.”
Since then a planned Cirque show on Dubai’s Palm island has been put on ice and it has been rumoured that Nakheel and Istithmar have been considering a sale of their stakes.
“They can’t sell the shares without our approval so they are locked in but I am totally open if they come with somebody that could be strategic,” says Laliberté adding: “I would be willing probably to spin off another 10pc for strategic reasons.”
Some other interesting quotes from the article are as follows:
Laliberte says that Cirque is worth “somewhere between $2bn and $3bn. dollars”.
To protect against over-expansion Laliberté says “we have made a decision of not creating more than three new tours or permanent shows a year.”
Read the full article here
{ SOURCE: The Telegraph }
