Fosun takes 20% stake in circus giant

Chinese private conglomerate Fosun International has broadened its business scope by backing the takeover of Canadian circus and entertainment giant Cirque du Soleil.

One of the world's largest and best-recognized entertainment brands, Cirque du Soleil reaches an audience of 150 million worldwide.

Fosun will take a 20 percent stake in Cirque du Soleil, while TPG, a leading private investment company based in Texas, will hold the majority 60 percent stake in the circus company by closing the deal at about $1.5 billion, Reuters cited insiders as saying on Tuesday.