French billionaire Pinault acquires majority stake in Hollywood talent agency CAA

CAA sold a majority stake to François-Henri Pinault's investment firm Artémis.
The deal values CAA at around $7 billion.
CAA will continue to be led by its existing leadership team including new CEO Bryan Lourd.
The deal gives Pinault's luxury brands access to CAA's A-list celebrity clientele.
Artémis sees the acquisition as a way to expand its entertainment industry presence.