Artemis, the investment arm of the French billionaire family, has reached an agreement to acquire a majority stake in US talent agency Creative Artists Agency (CAA), the companies said on Thursday.
Terms of the deal, in which Artemis, the owner of luxury conglomerate Kering, acquires the stake from global investment heavyweight TPG, were not disclosed.
US media had reported in recent days that the value of the deal would be around $7 billion (€6.54 billion).
Founded in 1975, CAA represents leading actors such as Brad Pitt and Jennifer Aniston, but also sports stars such as basketball player Chris Paul.
Actress Salma Hayek, who is married to Artemis boss Francois-Henri Pinault, is also represented by CAA.
Artemis was founded in 1992. According to Forbes, Pinault has a net worth of $34.4 billion (32.15 billion euros).
Companies that are part of Artemis include luxury company Kering, the parent company of Gucci and Saint Laurent, as well as Christie’s and several wineries.
Singapore-based global investment firm Temasek will remain a minority investor in CAA, according to the press release (AFP).
This translated post previously appeared on FashionUnited.com