Salma Hayek and Billionaire Fiance Call Off Engagement

Salma Hayek has called off her engagement to billionaire French businessman Francois-Henri Pinault, her representative said Friday.

Hayek, 41, and Pinault, 46, met in Venice in 2006. The couple announced their plans to wed in March 2007, and welcomed a daughter, Valentina Paloma Pinault, in June 2007.

"We are sad to announce the engagement of Salma Hayek and Francois-Henri Pinault has been canceled," publicist Cari Ross said in a statement. "There will be no further comment."

Photo Essay: Click here to see photos of Hayek

The Mexican-born Hayek has starred in films such as "Frida," "Spy Kids 3-D: Game Over" and "After the Sunset."

She is one of the executive producers of ABC's "Ugly Betty" and the chief executive of Ventanazul, a production company she formed with Metro-Goldwyn-Mayer Inc.

Pinault is the chief executive officer of the luxury goods company PPR SA, which owns high-end labels such as Gucci, Yves Saint Laurent, Balenciaga and Puma.

In April, the Oscar-nominated actress told Glamour magazine that she felt "lucky to have found a man who is so smart and successful in his own right. He understands I was happy and had a great life before I met him.

"Do I think we are going to get married? Probably," said Hayek. "Will it make a difference? I hope not. You want to grow old with someone, you want to have a partner and to have children — we have all those things."

The Associated Press contributed to this report.

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Click here to read Hayek's interview with Glamour