Cirque de Soleil sells majority stake to US private equity firm

The Cirque de Soleil has signed a deal to sell a majority stake in the famed circus group to U.S. private equity firm TPG for an undisclosed price.

The world-renowned circus troupe announced the transaction Monday. Billionaire Cirque founder Guy Laliberte will maintain a stake in the business and continue to provide strategic and creative input to the company.

Chinese investment firm Fosun and Quebec pension fund management firm Caisse de depot will hold minority stakes, while Quebec businessman Mitch Garber will become Cirque chairman.

TPG is the world's largest casino owner with a stake in Caesar's Entertainment, while Fosun owns Club Med resorts.

Cirque de Soleil has 4,000 employees worldwide, including more than 1,300 artists. It has 1,500 employees at its Montreal headquarters.