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Dubai firm buys U.S.'s oldest thoroughbred auction house

Lexington, Ky.-based Fasig-Tipton Co., North America's oldest thoroughbred auction company, announced Thursday it has reached an agreement to be acquired by Synergy Investments Ltd., a Dubai-based company headed by Abdulla Al Habbai, a close associate of Sheikh Mohammed bin Rashid al Maktoum.

Sheikh Mohammed, the Ruler of Dubai and owner of Godolphin Racing and the global Darley breeding operation, has long been one of the world's leading buyers in the thoroughbred marketplace.

Founded in 1898, Fasig-Tipton conducts auctions in Lexington, Saratoga Springs, N.Y., Timonium, Md., Miami, and Grand Prairie, Texas.

Read the full story at Kentucky.com.

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