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CAA in talks to promote majority stake to billionaire François-Henri Pinault in $7bn deal (report)

Los Angeles-based Artistic Artists Company (CAA), one of many largest leisure and sports activities businesses on the planet, is reportedly in talks to promote a majority stake in its enterprise.

That’s based on Bloomberg, which stories that the entity on the opposite facet of the negotiation desk is French billionaire François-Henri Pinault.

Citing individuals aware of the matter, Bloomberg stories that CAA ‘may fetch a valuation of at the least $7 billion‘.

One of many outlet’s sources added, nevertheless, that Pinault’s talks with TPG Capital-backed CAA ‘may nonetheless finish with out an settlement’.

Pinault’s household is behind the Kering group, whose portfolio of firms consists of luxurious manufacturers and vogue homes from Gucci, to Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, in addition to Kering Eyewear.

Kering guardian firm the Artemis Group was arrange because the Pinault household’s funding car in 1992 and counts belongings reminiscent of Christie’s public sale and publishing home Editions Tallandier.

It additionally owns a stake in sports activities model Puma and has made investments in Deezer and ByteDance.

Based in 1975, CAA was began by 5 brokers who have been working on the William Morris Company, which grew to become William Morris Endeavor (WME).

These brokers have been: Michael S. Rosenfeld, Michael Ovitz, Ronald Meyer, William Haber, and Rowland Perkins.

Right now, CAA represents an enormous roster of outstanding expertise working in movie, tv, music, theatre, video video games, sports activities, and digital content material.

In music, the corporate represents a number of the world’s largest touring artists.

CAA is headquartered in Los Angeles and has a major presence in New York, Nashville, London, Beijing, and Shanghai, in addition to places of work in Atlanta, Charlotte, Chicago, Dallas, Denver, Geneva, Jacksonville, Las Vegas, Memphis, Miami, Munich, Orlando, Stockholm, and Toronto, amongst different areas globally.

In 2010, TPG Capital purchased a 35% stake in CAA, and upped that stake to a reported 53% in 2014.

In September 2017, CAA introduced that Temasek had acquired a minority stake in its enterprise.

TPG Capital retained its majority place in CAA following the Temasek transaction.

On the time, then-CAA President Richard Lovett stated: “As one probably the most profitable and complex buyers on the planet, Temasek gives a rare stage of perception and assets as we proceed to offer the very best alternatives for the corporate and our shoppers.

“Right now’s announcement speaks to the unbelievable development and relentless innovation throughout all areas of the company. Now we have a mix of companions that present international firepower for our continued success.”

In 2021, CAA made its personal acquisition, snapping up rival leisure and sports activities company, ICM Companions (ICM). The deal was reported on the time to be valued at $750 million with “a pro-forma” enterprise worth of $5 billion for the mixed agency.

CAA promoted CFO James Burtson to President in 2021.Music Enterprise Worldwide

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