31 October 2024
Sotheby's Closes Deal with Abu Dhabi Soverign Wealth Fund for $1 B. Cash Injection
Sotheby's has closed a deal, previously announced this summer, for Abu Dhabi's sovereign wealth fund and investment company, ADQ, to acquire a minority stake in the auction house. ADQ, along with the family of telecoms tycoon Patrick Drahi, the auction house's billionaire owner, bought newly-issued shares of the company worth $1 billion.
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