04/20/2015 09:59 EDT | Updated 06/20/2015 01:12 EDT

NewsAlert: Cirque du Soleil sells majority stake to U.S. private equity firm

MONTREAL - 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.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 manager the Caisse de depot will hold minority stakes, while Quebec businessman Mitch Garber will become Cirque chairman.More coming.