MONTRÉAL, July 16, 2020 /CNW
Telbec/ - 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.
About Quebecor
Quebecor, a Canadian leader in
telecommunications, entertainment, news media and culture, is one
of the best-performing integrated communications companies in the
industry. Driven by their determination to deliver the best
possible customer experience, all of Quebecor's subsidiaries and
brands are differentiated by their high-quality, multiplatform,
convergent products and services.
Québec-based Quebecor (TSX: QBR.A, QBR.B) employs more than
10,000 people in Canada.
A family business founded in 1950, Quebecor is strongly
committed to the community. Every year, it actively supports more
than 400 organizations in the vital fields of culture, health,
education, the environment and entrepreneurship.
Visit our website: www.quebecor.com
Follow us on Twitter: twitter.com/Quebecor
SOURCE Quebecor