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Mitch Garber named as chairman of Cirque du Soleil
Tuesday April 21,2015 : FAMILIAR NAME SURFACES IN CIRQUE DU SOLEIL SALE
Mitch Garber named as incoming chair of company.
Online gambling industry veteran and CEO of Caesars Interactive Entertainment, Mitch Garber, has been named as the incoming chairman of Cirque du Soleil, the subject this week of an acquisition deal in which TPG-led investors agreed to buy the controlling interest in the company from founder Guy Laliberté (55) for an undisclosed amount, although the enterprise has an estimated value of $1.5 billion.
Commenting on the deal, the Wall Street Journal reported that Texas-based private equity group TPG was at the head of a group of Chinese investors.
"Founder Guy Laliberté will maintain an unspecified stake in the business and act as creative adviser to the company, which will maintain its headquarters in Montreal," a Cirque du Soleil spokesman said.
Reuters reported that the new partners plan to expand into China, as well as push growth plans for the circus troupe in New York and London.
On completion of the deal, TPG will own 60 percent, while a unit of Chinese conglomerate Fosun International Ltd will have a 20 percent stake, Cirque founder and ninety percent shareholder Guy Laliberte said.
Fosun, which acquired French holiday group Club Med in February, also bought a 5 percent stake in British travel group Thomas Cook last month.
Canada's second-largest pension fund, Caisse de dépôt et placement du Québec, will hold a 10 percent stake, while the Laliberte family trust will keep the remaining 10 percent.
Cirque du Soleil generates revenues of $1 billion annually, and will remain headquartered in Montreal, Canada, CEO Daniel Lamarre said.
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MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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