Sotheby's has agreed to sell a minority stake in the fine arts company to Abu Dhabi Media Office. In connection with the transaction, ADQ and Bidfair will invest approximately $1 billion in the company. The transaction, announced Aug. 9, is expected to close before the end of the year. New York-based Sotheby’s was represented by Slaughter and May and a Mayer Brown team led by partner Jason Bazar. Abu Dhabi Media Office, which is based in UAE, was advised by Sullivan & Cromwell corporate partners Alison Ressler and Rita-Anne O'Neill.
Entertainment, Sports & Media
August 12, 2024, 12:25 PM