Salma Hayek, Fiancee Break Engagement - They had been engaged for 16 months

The actress and her French billionaire fiancee, Francois-Henri Pinault, have called off their 16-month engagement, reports USA Today.

“We are sad to announce the engagement of Salma Hayek and Francois-Henri Pinault has been canceled,” Hayek’s rep said in a statement. “There will be no further comment.”

The couple met in Venice in May 2006 and announced their engagement in March of 2007. Last September, they welcomed their first daughter, Valentina Paloma.

Pinault is the CEO of PPR, a luxury good firm that own Gucci, Yves Saint Laurent, Stella McCartney, Balenciaga, a french department store and national music chain.

Hayek received an Oscar nomination for playing the titular role in 2002’s “Frida.” Her other credits include “Desperado,” “Fools Rush In,” “Wild Wild West,” “After the Sunset,” “Bandidas” and “Ask the Dust”. She next stars opposite Jared Leto and John Travolta in “Lonely Hearts,” a crime thriller scheduled for release April 13.

She’s also a Golden Globe-winning producer on ABC’s “Ugly Betty,” for which she made guest appearances.