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CAA in Advanced Talks to Sell Majority Stake to French Billionaire Francois-Henri Pinault (Report)

14.07.2023 - 12:43

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variety.com

variety.com:

Elsa Keslassy International Correspondent Hollywood talent agency CAA is in advanced talks to sell a majority stake to Francois-Henri Pinault, the French billionaire behind luxury and fashion empire Kering, according to a report in Bloomberg.

The deal would value CAA, which was founded in 1975 and is backed by TPG, at $7 billion, as per Bloomberg’s report, based on anonymous sources.

Reached by Variety, a spokesperson for Pinault and his investment vehicle Artemis declined to comment. A rep for Kering, meanwhile, denied any involvement of the group.

CAA did not respond to requests for comment by press time. Rumors of a pending sale between CAA and Pinault have emerged at a critical time for Hollywood and for talent.

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