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Istithmar World, Nakheel acquire 20 per cent stake in Cirque du Soleil
DUBAI - Istithmar World, the investment arm of Dubai World, and Nakheel real estate developers on Wednesday announced that both companies have together acquired a 20 per cent stake in Cirque du Soleil, a live entertainment company providing high-quality artistic entertainment.
Under the terms of the agreement, the remainder of the business will continue to be owned by Cirque du Soleil's Founder, Guy LalibertÈ, and his team.
Quebec-based Cirque du Soleil has annual sales in excess of $700 million and attracts nearly 10 million visitors a year, making it one of the world's largest entertainment businesses. Nakheel and Cirque du Soleil has earlier announced a 15-year partnership in May 2007 to develop a permanent show on Palm Jumeirah.
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