The purchase of Fasig-Tipton by Dubai-based Synergy Investments was finalized May 30, according to Boyd Browning, Fasig-Tipton’s executive vice president and chief operating officer.
“The sale closed as scheduled with no problems and we are moving along with business as usual,” Browning said. “We look forward to a bright future at Fasig-Tipton.”
Financial details of the transaction were not made public.
Synergy Investments is headed by Abdulla Al Habbai, an associate of Sheikh Mohammed, the ruler of Dubai .
It was announced April 10 that Fasig-Tipton, founded in 1898 and North America’s oldest Thoroughbred auction company, had reached an agreement to be purchased by Synergy.