DUBAI, United Arab Emirates — The government-controlled developer of palm-shaped islands off Dubai’s coast and a related investment arm said Wednesday they have bought a 20 percent stake in international circus touring company Cirque du Soleil.
Property developer Nakheel and investment company Istithmar World Capital did not say how much they paid for their share of the group, which began performing in Quebec nearly 25 years ago and is today a mainstay of theaters in Las Vegas and the Far East.
The agreement keeps control of the Montreal-based entertainment company in the hands of founder Guy Laliberte, putting to rest for now speculation that the troupe would be sold outright.
“This partnership is the best of both worlds for me and my management team,” Laliberte said in a joint statement with Nakheel and Istithmar. “We can keep control of our creative challenges and operations while accelerating our growth doing projects all over the world.”
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