Swiss firm decides not to pursue Just For Laughs purchase
Just For Laughs hired RBC Capital Markets to examine options surrounding the sale of founder's shares
A Swiss-based firm thought to be a front-running candidate to buy Just For Laughs has decided not to pursue the purchase of the Montreal-based company.
Grégoire Furrer, founder and owner of GF Productions, said in a statement Monday he believes the company should remain Quebec owned.
Gilbert Rozon, the founder of Just for Laughs, announced earlier this fall he would sell all his shares amid allegations of sexual harassment and sexual assault.
Just For Laughs hired RBC Capital Markets to examine options surrounding the sale of Rozon's stake in the company.
GF Productions has operated for 28 years and Furrer is producer of the Montreux Comedy Festival in Switzerland.
A number of other groups have expressed interest in the festival, including ComediHa!, a Quebec City-based agency founded by Sylvain Parent-Bedard that has offices in Montreal and Hollywood.
With files from The Canadian Press