French tycoon linked with $7 billion CAA deal

Billionaire French businessman Francois-Henri Pinault is reportedly in advanced talks to acquire a majority stake in Creative Artists Agency (CAA).

According to Bloomberg, the proposed deal would value the leading entertainment and sports agency, which is backed by private equity firm TPG, at US$7 billion (€6.2bn), although one source indicated the talks “could still end without an agreement”.

Pinault is chairman and CEO of Paris-headquartered luxury goods company Kering, owner of brands such as Balenciaga, Bottega Veneta, Gucci, Alexander McQueen…

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