Deals
Sotheby’s Said to Select Goldman Sachs, Morgan Stanley for IPO
- Auction house could be valued at $5 billion in listing
- Patrick Drahi planning U.S. IPO for Sotheby’s this year
A worker mops the steps outside Sotheby's in Mayfair, London, U.K., on Tuesday, Jan. 4, 2022.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Sotheby’s, the auction house owned by French telecom billionaire Patrick Drahi, has selected Goldman Sachs Group Inc. and Morgan Stanley to work on a potential U.S. listing, according to people familiar with the matter.
An initial public offering could take place later this year and the company may seek a value of about $5 billion, excluding debt, the people said, asking not to be identified discussing confidential information.