Fried Frank acted as counsel to LionTree Advisors, financial advisor to Sotheby's, in Sotheby's US$3.7 billion sale to BidFair USA, an entity wholly owned by media and telecom entrepreneur and art collector Patrick Drahi. Sotheby's is one of the world's largest brokers of fine and decorative art, jewelry, real estate, and collectibles. Patrick Drahi is a global entrepreneur with numerous telecommunications, media, and digital properties. The transaction is expected to close in the fourth quarter of 2019 following shareholder approval.
The Fried Frank team was led by corporate partner Warren S. de Wied.