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Topic: Francois Pinault

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	SansTitre
		François Pinault has remained discreet regarding his reported choice as he does not want to destabilise the market in announcing what would be the works chosen to enter his museum.
		It is probable that François Pinault will keep many works in his own collection while financial and fiscal implications are still be fully determined before he will take a final decision about the works that will go to the Seguin island.
		Pinault is also known to admire many American painters such as De Kooning of whom he bought a 1956 masterpiece titled “January 1st”.
	www.artcult.com /na131.html (572 words)

	L.A. Daily News - Business (Site not responding. Last check: 2007-10-23)
		Pinault, who has a history of buying troubled firms, said he was first approached about a business opportunity involving the junk bonds in August or September of 1992 by an executive of Altus Finance.
		Pinault's attorneys have argued that his purchase of the Executive Life holdings was not a conspiracy but simply a business investment made almost a year after Credit Lyonnais had closed on its transaction with California Insurance Commissioner John Garamendi.
		Pinault also testified he had no reason to believe so-called portage agreements struck among the investors group that bought Executive Life assets were improper or being kept a secret.
	u.dailynews.com /Stories/0,1413,200~20950~2800095,00.html (655 words)

	TIME Style & Design Fall 2005: Francois-Henri Pinault -- Fall 2005 Style & Design
		Although his father François Pinault had delegated the day-to-day running of his companies to a nonfamily chief executive, François-Henri announced he would be assuming the role of PPR's CEO, overseeing operations at the world's third largest luxury conglomerate.
		Pinault père, who never finished high school and launched his empire from a sawmill in Brittany, France, in 1963, is famous for having grabbed opportunities when they came along, even when it meant completely redefining his business.
		In an unusual arrangement, beginning in 1987, François Pinault organized a group of French business leaders to meet regularly with his eldest son to determine whether François-Henri was capable of succeeding him.
	www.time.com /time/2005/style/091305/francois_henri_pinault_19a.html (674 words)

	Retailer Wants Its Other Brands to Be More Like Gucci - New York Times
		Pinault's father, a high school dropout, switched the baskets frequently, moving from wood and building materials to retailing to luxury.
		Pinault, a collector of luxury watches who favors Gucci suits, joined the family company in the 1980's, rotating through various subsidiaries, like a unit that specialized in African trade; Fnac; and the company's Internet business.
		Pinault denies there is a fundamental difference between his and his father's philosophy.
	www.nytimes.com /2006/01/26/business/26luxury.html?ex=1295931600&en=dc2bbe7b1414e091&ei=5088&partner=rssnyt&emc=rss (758 words)

	Guardian \| All fashion spent: Gucci topples off the catwalk
		Serge Weinberg, whom Pinault appointed as chief executive of PPR, is understood to have told Ford that he wanted to reorganise the brands, and to have relieved Ford of oversight of Yves Saint Laurent.
		A few years ago, Arnault and Pinault were involved in a vicious takeover battle for Gucci, which the French press dubbed 'the battle of the handbags'.
		Pinault was involve in the purchase of Executive Life, but the deal is being questioned by the US authorities, and legal action is pending.
	www.guardian.co.uk /print/0,3858,4793099-111093,00.html (1340 words)

	Billionaire bids adieu to Paris and takes collection elsewhere - Arts
		Francois Pinault, a billionaire who is France's wealthiest art lover, has announced he is abandoning plans to build a $US195 million ($253 million) contemporary art museum on the outskirts of Paris.
		Pinault, 68, whose corporate empire includes Christie's, Gucci, Yves Saint Laurent and three chains of department and media stores, said this week he was reluctantly giving up the museum project because it was five years behind schedule.
		One of Pinault's conditions was that the whole area would be urbanised, but no plans to develop the rest of the island have been approved.
	www.smh.com.au /news/Arts/Billionaire-bids-adieu-to-Paris-and-takes-collection-elsewhere/2005/05/10/1115584957021.html?oneclick=true (601 words)

	Salon News \| A California lawsuit makes Paris tremble (Site not responding. Last check: 2007-10-23)
		Pinault now ranks fifth among "the world’s working billionaires," according to Forbes magazine, with a personal fortune estimated at around $6 billion.
		Pinault’s other assets include the auction house Christie’s, the Italian luxury house Gucci (which he wrung away from competing French finance star Bernard Arnault last fall), and a 15 percent stake in France’s dominant TV network, TF1.
		"Pinault's problem was that he was aware of the agreements and went in anyway," says Fontana.
	archive.salon.com /news/feature/2000/02/22/pinault/index.html (963 words)

	TIME Europe Magazine: Jun. 16, 2003 -- Pinault's Big Sale - 1
		On the same day the wine went under the hammer, Artémis — the Pinault family's holding company — issued j520 million in bonds that it said was to be used to refinance existing bank debt.
		But Pinault's Achilles heel is not so much the level of his debt as the value of the assets he has pledged to the banks against it.
		Pinault's problem, she says, "is that he's too astute.
	www.time.com /time/europe/magazine/article/0,13005,901030616-457352,00.html (1113 words)

	artnet.com Magazine News - Pinault Acquires Piasa
		Pinault, who owns the French department store Au Printemps, the vineyard Chateau Latour and Christie's, has now bought Piasa, France's third-largest auction house.
		The terms of the Piasa purchase, which Pinault made through his holding company Artemis, were not disclosed.
		As for Pinault, he won the latest public-relations battle on Mar. 9 with the inauguration of Christie's plush new Paris headquarters on the avenue Matignon.
	www.artnet.com /Magazine/news/darmon/darmon3-10-00.asp (345 words)

	World Affairs Board - French Frauds
		This is where the French government did not indict Pinault on fraud and other charges, and where the French government even funded several hundreds of millions of dollars in legal remedies stemming from Pinault's illegal activities under a plea bargain agreement with U.S. federal prosecutors.
		Although he was originally a target for criminal indictment, the FBI reported earlier this year that Pinault was not criminally charged as he had cooperated in exchange for immunity from prosecution.
		French journalists made allusions to Pinault's influences through his financial connections while some just shrugged their shoulders saying that is just the way the French political system operates: by pandering to an elite and tight-knit group of business and political leaders.
	www.worldaffairsboard.com /showthread.php?t=1939 (1068 words)

	Tadao Ando will build his "vessel" on the Ile Seguin \| Floornature
		In the fall of 2000, 32,000 m2 of the Ile Seguin were purchased by François Pinault, a prominent French businessman and major shareholder in such well-known French companies as Printemps, La Redoute and FNAC as well as in Gucci, the Rennes football team, and Christie's.
		Pinault, who collects art and has a great interest in architecture, purchased the land in order to build a contemporary art foundation, deciding to place his bets on what ought to be one of the biggest projects in Europe in our day.
		The initiative was inspired by projects in other European cities, such as Bilbao's construction of the Guggenheim in October 1997, and aims to promote revitalisation of a large area beginning with an attention-grabbing building which will act as the architectural and cultural starting point and a guiding light for renewal of the entire area.
	www.floornature.com /worldaround/articolo.php/art116/3/en (507 words)

	Guardian Unlimited Arts \| Arts features \| Saatchi of the Seine
		A few years ago, when French billionaire François Pinault was searching for an original way to show a sculpture by the American conceptual artist Richard Serra that he had acquired, he decided to buy a ruined chapel in Brittany, dismantle it, transport it across France and rebuild it in the park outside his chateau.
		Local planning officials were aghast, but Pinault has never been one to allow bureaucracy, or logistics, to stand in his way.
		More recently, when Pinault was looking for a larger venue to exhibit his collection of contemporary art, he selected an abandoned island in Paris, three miles along the Seine from the Eiffel tower.
	arts.guardian.co.uk /features/story/0,11710,1324237,00.html (1238 words)

	Bloomberg.com: News & Commentary
		Pinault, whose Pinault-Printemps-Redoute SA is Gucci's largest shareholder, looked over at De Sole, putting his hand on the Gucci executive's arm.
		Pinault is the largest shareholder and vice chairman of the supervisory board of PPR, which holds about 67 percent of Gucci and has pledged to buy the rest.
		Francois Pinault, who has denied the allegations, declined repeated requests to be interviewed for this article.
	quote.bloomberg.com /apps/news?pid=nifea&&sid=ac0mjMCQmL2Q (3016 words)

	CNN.com - Gucci tug-of-war come to an end - Sep. 10, 2001
		LVMH Chairman Bernard Arnault and PPR's owner Francois Pinault, both self-made billionaires, first locked horns in 1999 after Gucci called in Pinault to protect it from a takeover from LVMH.
		Pinault snatched a 42 percent of Gucci in a dawn raid that shrank Arnault's 34 percent stake to 20 and denied him a seat on the board.
		Francois Pinault, France' richest man, took his company's holding in Gucci to 53.2 percent.
	edition.cnn.com /2001/BUSINESS/09/10/gucci/index.html (413 words)

	Serge Weinberg 1951— - PPR GOT ITS START IN TIMBER BUSINESS
		Founded by Francois Pinault in 1963, Pinault Group focused on timber for the first quarter century of its existence.
		Pinault's entry into the retail sector came in 1991 with the acquisition of Conforama, a chain of home-furnishings stores.
		By the mid-1990s Francois Pinault had clearly identified Weinberg as a strong leader, so in 1995 when the chairman of PPR, Pierre Blayau, resigned after a disagreement with Pinault over management strategy, Weinberg was tapped to replace him.
	www.referenceforbusiness.com /biography/S-Z/Weinberg-Serge-1951.html (1762 words)

	Francois Pinault gets what he wants at last as Serge Weinberg steps aside \| Vogue
		The $30 billion luxury conglomerate which is controlled by Pinault's family company, Artemis, will now be lead by Pinault after an amicable arrangement whereby Weinberg will continue to act as a director of the PPR-owned Gucci Group as well as heading up a private equity fund thought to hold several hundred million dollars.
		Weinberg, who has worked for the Pinault family for 15 years, is thought to have come under fire in recent times as Tom Ford and Domenico de Sole left Gucci.
		It has also been rumoured that his relationship with Pinault is not as sweet these days as it once was.
	www.vogue.co.uk /vogue_daily/story/story.asp?stid=23259 (258 words)

	Guardian Unlimited Arts \| Arts news \| Art museum falls foul of red tape
		The billionaire businessman, François Pinault, owner of one of the finest private contemporary art collections in Europe, is now likely to put it on display in a magnificent 18th-century palace in Venice.
		Mr Pinault, whose £3bn-plus personal fortune is the third biggest in France, announced in 2000 that he was going to build the museum on the site of a disused Renault car factory on the Ile Seguin in the Seine three miles from Paris.
		But having spent some €20m (£13.68m) on feasibility studies and architect's fees, Mr Pinault has reportedly lost patience with the local councillors of Boulogne-Billancourt, who have have made little or no progress towards deciding what should be done with the 50 hectares of the island not occupied by the planned museum.
	arts.guardian.co.uk /news/story/0,11711,1462982,00.html (476 words)

	SignOnSanDiego.com > News > Business -- French billionaire denies conspiring to take over failed insurer
		LOS ANGELES – Billionaire Francois Pinault insisted Wednesday that a French bank had no control over any of his companies while he pursued the acquisition of a firm formed to handle policyholders of a failed California insurer.
		Earlier, Pinault testified that he moved to buy the junk bonds from Credit Lyonnais subsidiary Altus Finance in 1992 because it would diversify his holdings and provide an investment foothold in the United States.
		Pinault said he couldn't explain the disparity in the ownership figures and reiterated that he controlled all his firms.
	www.signonsandiego.com /news/business/20050406-1355-ca-executivelife.html (521 words)

	Executive Life jury finds firm conspired against California regulators, clears French billionaire North County Times - ... (Site not responding. Last check: 2007-10-23)
		LOS ANGELES -- California regulators and a French company controlled by billionaire Francois Pinault are both claiming victory after a federal jury found the company conspired to defraud the state but absolved Pinault of any personal role in the scheme.
		Pinault was vindicated totally." He also said it was important to note that the jury had rejected two of three allegations that Executive Life policyholders had been harmed.
		During the trial, Pinault's attorneys argued that his purchase of about $2 billion worth of Executive Life holdings was not a conspiracy but simply a business investment made almost a year after Credit Lyonnais had closed on its transaction with Garamendi.
	www.nctimes.com /articles/2005/05/11/business/news/15_44_055_10_05.txt (929 words)

	BBC NEWS \| Business \| France agrees bank scandal payout
		And crucially, French tycoon Francois Pinault has agreed to pay $185m towards the settlement in return for evading criminal charges.
		Mr Pinault has been accused of illegally handling Executive Life assets on behalf of Credit Lyonnais, as part of an attempt to disguise the French bank's involvement in the deal.
		Mr Pinault, one of the best-known businessmen in France and the current owner of fashion house Gucci and auctioneer Christie's, was believed to have made $1bn from his involvement in the transaction.
	news.bbc.co.uk /1/hi/business/3322863.stm (361 words)

	news41
		François Pinault, a keen collector of modern and contemporary art works, intends to boost Christie's activities in France in view of forthcoming auctioneering reforms here which will allow foreign groups to carry out sales on French territory.
		François Pinault started his career in Brittany by running a wood cutting company and then worked in the banking sector before taking control of the Printemps-Redoute chainstores which include Le Printemps, Conforama, Fnac and the big mail order company la Redoute.
		François Pinault is notably trying to buy the 26,1% shares the CDR holds in Artemis but both parties disagree on the buying price.
	www.artcult.com /news41.htm (966 words)

	CNN.com - Ex-Credit Lyonnais duo indicted - Dec. 18, 2003
		The other former Credit Lyonnais officials named in the indictment were: Francois Gille, a deputy managing director; and Dominique Bazy, an executive committee member.
		Pinault's Artemis bought the Executive Life bond portfolio in 1992 and reaped a windfall on it.
		Pinault, a retail magnate, later bought two-thirds of Executive Life.
	www.cnn.com /2003/BUSINESS/12/18/france.creditlyon.reut (559 words)

	Bloomberg.com: Culture (Site not responding. Last check: 2007-10-23)
		Pinault, who plans to house his collection in Venice, is one of a growing number of wealthy collectors who support these fairs and auctions, ranging from London's Charles Saatchi to Miami's Martin Margulies.
		Pinault is a good customer who in the past has bought art by Jeff Koons, Bettina Rheims and Pierre and Gilles, de Noirmont says.
		Estelle Guillot-Tantay, a spokesman for Pinault, wasn't immediately available to discuss his purchases, according to a colleague who answered the phone in her office.
	www.bloomberg.com /apps/news?pid=10000088&sid=asmtuUyM5X14&refer=culture (853 words)

	Francois Pinault, The World's Richest People - Forbes.com (Site not responding. Last check: 2007-10-23)
		Son François-Henri, chief executive, is said to be trying to pull in the reins of the group's scattered portfolio that also includes African distribution concern CFAO and books-and-music retail chain Fnac.
		Pinault, who also owns auction house Christie's, scrapped plans for a 352,000-square-foot museum in the former Renault factory in western Paris due to supposed red tape.
		U.S. indexes are delayed at least 15 minutes with the exception of Nasdaq, Dow Jones Industrial Average and S&P 500 which are 2 minutes delayed.
	www.forbes.com /lists/2006/10/FUBG.html (207 words)

	Venice, a New Mecca for Modern Art - Arts Extra - Newsweek - MSNBC.com
		Pinault, 70, made his fortune selling wood in France, and his international fame as the money man behind Gucci.
		Pinault is not just looking for space, but to make a statement.
		Pinault commissioned Japanese architect Tadao Ando to design a spectacular museum, and the project was announced in 2000 with a firm commitment to complete it by 2005.
	www.msnbc.msn.com /id/12635138/site/newsweek (784 words)

	French Billionaire to Be Questioned - MSNBC Wire Services - MSNBC.com
		PARIS - French tycoon Francois Pinault is to be questioned on behalf of U.S. authorities Friday in connection with the Executive Life affair, a judicial source said.
		The source, who spoke on condition of anonymity, said Pinault was to be questioned in Paris as part of a civil lawsuit brought by the state of California against Pinault and others who were involved in the buyout of Executive Life, a bankrupt insurer.
		Pinault, who saw a potential bargain in the form of the failed insurer's junk bond portfolio, subsequently bought Executive Life from a Credit Lyonnais subsidiary.
	www.msnbc.msn.com /id/6301209 (369 words)

	Pinault, Artemis Now Sole Defendants in Exec. Life Trial
		News reports (AFP, Reuters) have indicated that Pinault has offered as much as $260 million, but the CID is asking for $445 million.
		The CID claims Pinault made $2 billion on the deal at the expense of policyholders.
		He has also argued that former and present Insurance Commissioner John Garamendi, who is scheduled to testify at the trial, was fully informed concerning all the parties to the transaction, and that it was an arm's length deal with no illegal implications.
	www.insurancejournal.com /news/international/2005/02/21/51779.htm?print=1 (322 words)

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