Founder Guy Laliberté has agreed to sell control of Cirque du Soleil, the world’s largest theatrical production company, for about $1.5 billion, the Globe and Mail reported, citing sources.

Laliberté is slated to sell majority control of the Canadian performance company to private equity firm TPG Capital and Fosun Capital , owned by Chinese conglomerate Fosun International, the newspaper reported.

Canada’s second-largest pension fund, Caisse de dépôt et placement du Québec , could buy a 10 percent stake, but negotiations are still ongoing, the report said. Reuters, citing people familiar with the matter, said on Wednesday that TPG Capital and Fosun were in final stages of negotiations to buy Cirque du Soleil.

Laliberté owns 90 per cent of the Montreal-based Cirque du Soleil, which is known for its acrobatic spectacles. Laliberté will continue to hold a 10 percent stake under the deal, the newspaper said. TPG Capital did not immediately comment.

Reuters