Canada's Quebec Provides $200 Million Aid to Hard-hit Cirque du Soleil

Cirque du Soleil, its spotlight dimmed by the coronavirus pandemic, will receive $200 million in aid from Canada’s Quebec province, an official said on Tuesday, as part of broader efforts to revive and keep the hard-hit international entertainment group based in Montreal, Reuters reported. Quebec Economy Minister Pierre Fitzgibbon said the province has an agreement in principle that would give it the option to buy a majority stake in Cirque if shareholders TPG and Chinese conglomerate Fosun International Ltd (0656.HK) decide to pull out. The heavily indebted Cirque was exploring bankruptcy protection in March and laid off almost all of its staff after social distancing due to the coronavirus pandemic forced it to cancel shows. Read more