New partnerships
In August 2008, Cirque du Soleil announced a new strategic partnership with Istithmar World and Nakheel, two subsidiaries of the Dubai World Group, a major player on the world stage that owns the MGM-Mirage and the CityCenter, among others. The two subsidiaries have previously partnered with Cirque du Soleil on resident shows in Las Vegas.
The excellent relationship Cirque du Soleil has enjoyed for the past two years with the leaders of Istithmar and Nakheel is such that it has played a major role in the company’s decision to enter into this partnership.
With this agreement, Cirque du Soleil will be able to take advantage of a well-established global network to support its development. Cirque will therefore have direct access to both the entertainment and real estate fields while retaining full control over its operating latitude and the integrity of its creative processes.
The well-entrenched values espoused by Cirque du Soleil were the object of deep discussions leading to an important agreement. It was thereby decided that Nakheel would invest 1% of its revenue in social programs.
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