ADQ and Patrick Drahi Announce $1 Billion Investment in Sotheby's
Friday, 9 August 2024, 07:05
Investment Overview
Abu Dhabi wealth fund ADQ and Patrick Drahi, the majority owner of Sotheby's, are collaborating to invest $1 billion in the prestigious auction house.
Details of the Investment
- The investment will secure a minority stake in Sotheby's.
- Both ADQ and Drahi aim to strengthen Sotheby's market position.
Conclusion
This substantial capital injection reflects the growing confidence in Sotheby's ability to thrive amid evolving market dynamics.
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