Salma Hayek and French billionaire Francois-Henri Pinault have broken off their engagement. The couple, who welcomed a daughter, Valentina, last September, had reportedly been planning a multimillion dollar 2009 wedding extravaganza in the South of France.

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