©Reuters. File photo: François-Henri Pinault, chairman and CEO of French luxury group Kering, poses on the red carpet upon his arrival to attend the Balenciaga Summer 2022 Red Carpet event at Paris Fashion Week, Fra
(Reuters) – Creative Artists Agency (CAA) is in advanced talks to sell a majority stake to French billionaire Francois-Henri Pinault, in a deal that could value the Hollywood talent agency at more than $7 billion.
According to a source familiar with the situation.
Talks between Caa and luxury industry mogul Pinault, CEO of Kering (EPA:) – owner of the Gucci brand – and husband of actress Salma Hayek, could end without an agreement, the source said, adding that it was not a final decision has yet to be made.
If the deals are successful, the deal would mark a major win for private equity firm Tpg, which first invested in Caa in 2010. In 2014, Tpg increased its stake to 53% in a deal which valued the agency at $1.1 billion.
Founded in 1975, Caa was at the forefront of casting Hollywood actors, directors, writers, and other personalities for movies and television shows during the 1990s, as it grew revenues and assembled a roster of artists. to become the most powerful talent agency in the entertainment world.
(Translated by Chiara Scarciglia, editing by Sabina Suzzi)