Sotheby’s Holdings UK Limited, the company behind the renowned London auction house, is merging with ADQ CV Future Holdings I Limited, a firm based in Abu Dhabi. Also involved in the merger is Next Alt Sarl from Luxembourg, whose subsidiary, BidFair Limited, already held control over Sotheby’s.
The merger was filed with the EU Commission on August 26 and approved on September 17 under a simplified procedure, as reported by the Commission. ADQCVF and Next now jointly hold full control over Sotheby’s.
ADQCVF is a subsidiary of the investment and holding company ADQ, which operates in sectors such as energy, agriculture, healthcare, and logistics in the United Arab Emirates. Next, on the other hand, controls companies in the media and telecommunications industries.
Sotheby’s, founded in 1744 as an auction house, brokers and auctions luxury goods across various sectors, including wine. For example, on September 19, 2024, the "The Masterpiece Collection Part II" auction featuring Romanée-Conti will take place. Various vintages of the crus La Tâche, Richebourg, Grands Echézeaux, and Echézeaux were auctioned in different lots.
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