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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.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
NBA Odds: Wizards-Celtics at the Garden -
The Washington Wizards are making this a series. They’ve won back-to-back games against the Boston Celtics to knot this second-round matchup at 2-2 with Game 5 at the Garden on Wednesday. TNT has the coverage starting at 8 PM ET.
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