ADQ and Patrick Drahi to invest $1bn in Sotheby’s.

Abu Dhabi wealth fund ADQ and Sotheby's majority owner Patrick Drahi, agreed to invest $1bn in Sotheby’s, an auction house. "We are delighted to welcome ADQ as a shareholder to Sotheby’s. We embrace their long-term vision of our business, and this investment is a testament to what we have achieved so far as well as our significant potential for future growth. The additional capital and investment expertise will enable us to accelerate our strategic initiatives, expand our commitment to excellence in the art and luxury markets, and continue to innovate to better serve our clients around the world," Charles F. Stewart, Sotheby’s CEO.