French billionaire Francois-Henri Pinault is close to a $7 billion deal to buy a majority stake in Creative Artists Agency, the Hollywood talent giant that’s home to actor Brad Pitt and basketball’s Chris Paul, according to people familiar with the matter.
Pinault, whose family controls a luxury goods empire, is seeking the majority stake held by private equity firm TPG Inc., said the people, who asked not to be identified because the deal hasn’t been announced. Temasek Holdings Pte, the Singapore government’s investment firm, may also increase its stake in CAA by buying out China’s CMC Capital, the people said. While the deal could fall apart, the parties are expected to conclude negotiations in the next couple weeks.
Yet the Pinault family sees CAA as a way to invest in the value of celebrities, and may be able to use some of those famous faces to bolster its other businesses. The family is the biggest shareholder in Kering SA, the owner of Gucci and other luxury brands. The Pinaults also control the auction house Christie’s and wineries via a holding company. Pinault’s wife, actress Salma Hayek, is represented by CAA.
France Dernières Nouvelles, France Actualités
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