The biggest drinks acquisitions of 2019
French tycoon buys Sotheby’s for US$3.7 billion
In June, it was announced that Franco-Israeli media tycoon and art collector Patrick Drahi had acquired auction house Sotheby’s for US$3.7 billion.
The move returned Sotheby’s, which is one of the world’s leading fine wine and spirits auctioneers, to private hands after 31 years as a public company. Shareholders were reportedly paid $57 per share and the final offer represented a premium of 61% on Sotheby’s closing price on 14 June this year.
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