Pinault sells shares in auction group

LONDON. François Pinault, the collector and owner of Christie’s and the Palazzo Grassi and the Customs House galleries in Venice, is selling a majority shareholding in the French auction group Piasa, which he bought in 2000. The buyers include former French prime minister Laurent Fabius and Hermès chief executive Christian Blanckaert. The group has bought a 60% stake in the firm from Mr Pinault’s holding company, Artemis. No further details of the acquisition were available and Mr Pinault was not available for comment. G.A.

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