Quebecor announces that it will not participate in the nearly completed legal bidding process to rescue the Cirque du Soleil. The decision comes as Québec Superior Court prepares to hear and rule on the creditors’ proposal. Quebecor held lengthy discussions with the creditors’ advisors, Houlihan Lokey, until it was forced to end them by signing a non-disclosure agreement, at the request of the Cirque du Soleil.
However, Quebecor management remains eager to contribute to the Cirque’s turnaround and to leverage its experience, capital and Québec identity to do so, in cooperation with the creditors. Quebecor’s goal is to ensure the Cirque’s survival and continued artistic success by providing it with the means to succeed financially.