After the rumors have spread several times, confirmation comes: Artemisfamily holding company Pinobecomes the majority shareholder of the talent agency Wowwhich he takes over from the private equity fund Tpg.
The joint press release officially sanctioned the entry into the ranks of the French holding of the Hollywood group, representing some of the most important celebrities in the world of sports and entertainment, such as Zendaya, Brad Pitt, Tom Hanks and actress Salma HayekPino’s wife.
The amount paid by Kering’s largest shareholder is unknown, although there has been talk in recent days of a figure as high as $7 billion.
Pinault, CEO of Artémis, said CAA will place greater emphasis on diversity, both in terms of geographical presence and commercial activities, in its other assets, including Kering auction house Christie, Pino Collection contemporary art and Artemis Domenezwhich includes wineries, including Chateau Latour.
“Caa’s exceptional insight, relationships and access to all key sectors, coupled with a high level of proactive collaboration and ability to innovate, gives the company a huge role in expanding global opportunities for its clients. We look forward to supporting the agency’s stellar journey,” said Pinault, Kering President and CEO.
TemasekSingapore investment company, will remain a minority investor in Caa, while KMK Capital remains a strategic partner of Caa. The transaction is expected to close by the end of the year, subject to customary closing conditions.
From the editor