Creative Artists Agency (CAA) is in advanced talks to sell a majority stake to French billionaire Francois-Henri Pinault, a deal that the talent agency of hollywood at more than $7 billion, according to a source close to the matter.
CAA’s talks with luxury magnate Pinault, CEO of Kering PRTPthe owner of Gucci, and husband of actress Salma Hayek, they could end without a deal, the source said, adding that a final decision had not yet been made.
If the talks are successful, the deal would be a huge win for venture capital firm TPG, which first invested in CAA in 2010. In 2014, TPG increased its stake to 53% in a deal that valued the agency at $1,000. 100 million dollars.
Founded in 1975, CAA was at the cutting edge of recruiting actors, directors, screenwriters and other professionals of hollywood for movies and TV shows during the 1990s, when she increased her income and recruited talent to become the most powerful in show business.
The agency, which is based in Los Angeles, represents thousands of actors, directors and musical artists. His clients include Tom Hanks, Zendaya, Steven Spielberg, Ariana Grande and Beyonce.
The agency began representing athletes in 2006.
The sales negotiations coincide with a strike by actors from hollywood after the failed talks with the studios.
CAA did not immediately respond to a request for comment, and spokespersons for Pinault and TPG declined to comment. A Kering spokesman said the company was not involved in the talks.
Bloomberg had first reported the talks between Pinault and CAA. (Reuters).
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