Cirque du Soleil’s creditors are finalizing an agreement that could replace the one put forward by the insolvent entertainment company’s shareholders.

The turn of events was disclosed Friday at the Quebec Superior Court.

Shareholders including the Texan fund TPG Capital, the Chinese firm Fosun and the Caisse de depot have presented a so-called stalking horse bid valued at about US$420 million.

The lenders have signalled that they intend to oppose the shareholder agreement, calling it “doomed to fail…”

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