Pinault, whose family controls a luxury goods empire, including Gucci, Alexander McQueen, Saint Laurent, Bottega Veneta, Balenciaga, Brioni, Pomellato and others 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. If the deal does not fall apart, the parties could conclude negotiations in the next couple weeks.
Kering’s Francois-Henri Pinault Nears $7 Billion Deal For Hollywood Talent Agency CAA
IT IS BEING REPORTED THAT THE FRENCH BILLIONAIRE IS CLOSE TO A $7 BILLION DEAL TO BUY A MAJORITY STAKE IN CREATIVE ARTISTS AGENCY (CAA), THE POWERHOUSE HOLLYWOOD TALENT GIANT THAT IS HOME TO THOUSANDS OF CLIENTS INCLUDING ACTORS, DIRECTORS, SCREENWRITERS, RECORDING ARTISTS, AUTHORS AND ATHLETES.
HOLLYWOOD, CALIFORNIA — Earlier this summer, D.M. Fashion Book reported that the French luxury goods magnate worth more than $40 billion, was in “advanced talks” for a multibillion-dollar deal to purchase a majority stake in Creative Artists Agency (see it here).
The Fort Worth, Texas-based firm boosted its ownership stake to 54% in 2014, taking control of the business at a $1.1 billion valuation, according to Bloomberg.
CAA is looking to keep up with rival Endeavor, the Beverly Hills-based talent colossus co-founded by super-agent Ari Emanuel.