Abu Dhabi-based investment and holding company, ADQ has entered into a definitive agreement to acquire a minority stake in Sotheby’s, the global leader in fine art and luxury auctions, the companies announced. The deal, valued at approximately $1bn, marks a significant partnership aimed at supporting Sotheby’s growth and innovation plans. Under the terms of the agreement, ADQ will acquire newly issued shares of Sotheby’s, which will be used to reduce leverage and fuel the company’s ambitious expansion efforts. ADQ’s investment aligns with its broader strategy of pursuing value-accretive opportunities that contribute to the economic diversification of Abu Dhabi.