Dubai firm buys 20% of Cirque du Soleil
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Dubai’s government-controlled property developer Nakheel and investment company Istithmar World Capital have bought 20% of Cirque du Soleil. Canadian Press said the agreement kept control of the Montreal-based entertainment company in the hands of founder Guy Laliberte.
“We can keep control of our creative challenges and operations while accelerating our growth doing projects all over the world,” Laliberte said in a joint statement with Nakheel and Istithmar.
Speaking to the press, Laliberte insisted he was still in control of the world-renowned circus troupe.
“The Cirque is not sold and I am still the captain of the boat,” Laliberte was quoted saying by Canadian Press.
The report said there had been rumours of the Cirque being sold outright before. The deal announced on Wednesday gives 10% to property developer Nakheel and 10% to the Istithmar World Capital investment company. Both are part of Dubai World, a diversified holding company owned by the government of Dubai.
Associated Press said Nakheel and Cirque had agreed in May to build a theatre on Palm Jumeirah, being developed by the former. The 1,800 seat facility is expected to house a permanent Cirque du Soleil show beginning in summer 2011.
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