Abu Dhabi's ADQ to acquire minority stake in Sotheby's in $1 bln deal

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4 months ago

ADQ, Abu Dhabi's third biggest sovereign wealth fund, has acquired a minority stake in Sotheby's for $1 billion. Patrick Drahi, the majority owner, will invest additional capital, maintaining control. The investment aims to propel Sotheby's growth and innovation, enhance its operations, and improve global client service.

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Economic Times

Topics:

Abu Dhabi

ADQ

Sotheby's

Patrick Drahi

wealth fund

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