Deals
French Billionaire Pinault Is in Talks to Buy CAA Talent Agency in $7 Billion Deal
- CAA may fetch valuation more than $7 billion in Pinault deal
- Talks come as Hollywood actors, writers vote to go on strike
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Luxury tycoon Francois-Henri Pinault is in advanced discussions to buy a majority stake in Creative Artists Agency, according to people familiar with the matter, potentially adding another international trophy asset to the portfolio of a French billionaire.
The talent agency, backed by private equity firm TPG, could fetch a valuation of at least $7 billion, said the people, who asked to not be identified because the information isn’t public. The talks, which have come to light just as Hollywood writers and actors go on strike together for the first time in six decades, could still end without an agreement, one of the people said.