French billionaire Francois-Henri Pinault is in closing talks to purchase a majority stake in CAA in a $7 billion deal, in keeping with an unconfirmed Bloomberg Information report.
Pinault, who’s married to Mexican actress Salma Hayek, is the CEO of luxurious style group Kering and president of its dad or mum holding Groupe Artémis.
In accordance with Bloomberg, talks are at a sophisticated stage however a deal shouldn’t be a certainty at this stage.
Information of the potential deal broke simply hours after actors’ union SAG-AFTRA introduced its members could be occurring strike as of midnight in L.A., after talks with studios and streaming providers had failed.
The negotiations additionally come only one 12 months after CAA closed its $750 million acquisition of ICM Companions to create a mega company. On the time, the mixed worth for the merged businesses was estimated at round $5 billion.
CAA is backed by personal fairness group TPG Capital, which acquired a 35% stake within the expertise company in 2010.
Pinault’s Kering Group is among the largest luxurious items conglomerates on the earth alongside compatriot rival LVMH (Moët Hennessy Louis Vuitton).
Luxurious manufacturers beneath its umbrella embody Gucci, Saint Laurent, Balenciaga, Alexander McQueen, Brioni and Bottega Veneta.
Below its Kering Basis, it has robust connections with cinema, organizing the Ladies in Movement initiative on the Cannes Movie Pageant since 2015.
Elsewhere, within the group, the Saint Laurent label, launched a manufacturing banner this 12 months.
Headed by the model’s inventive director Anthony Vaccarello, its first productions included Pedro Almodóvar’s Cannes 2023 quick Unusual Manner of Life and initiatives with David Cronenberg and Paolo Sorrentino are additionally within the works.
Alongside Kering, different property of dad or mum holding firm Groupe Artémis embody sports activities gear producer Puma, public sale home Christie’s, French information journal Le Level, Breizh Café chain and the Stade Rennais F.C Ligue 1 soccer group, which wears a package designed by Balenciaga.
Deadline has contacted TPG, CAA, Kering and Groupe Artémis for remark.
