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Sale of Fasig-Tipton Complete

The sale of Fasig-Tipton to Dubai-based company was finalized May 30.

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.