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Cirque sells stake to Dubai

August 07, 2008|From Reuters

Two government-owned investment firms in Dubai have acquired a 20% stake in the colorful Canadian acrobatic troupe Cirque du Soleil, furthering the desert city's plans to expand its tourism appeal and lengthening its list of foreign investments.

Istithmar World, the investment arm of Dubai World, and real estate developer Nakheel said Wednesday that they bought the stake in the Montreal-based group for an undisclosed sum.

Under the deal, the rest of the business will remain under the ownership of Guy Laliberte, founder of the troupe known for mixing traditional circus acts with dance, music and theater.

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