S&P: Sotheby's Holdings unchanged

Standard & Poor's said its ratings and outlook on Sotheby's Holdings Inc. (BB/positive) are unaffected by the company's announcement that it will acquire Noortman Master Paintings for $56.5 million.

Sotheby's will purchase 100% of Noortman's outstanding shares, or 1.95 million shares, at $29.01 per share, as well as assume about $26 million in debt, the agency said.

The transaction will not affect the company's credit metrics, which continue to be consistent with current ratings, S&P noted.

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