Dubai company acquires Fasig-Tipton

LEXINGTON, Ky. (AP) - A company from Dubai has reached an
agreement to acquire Fasig-Tipton Co. Inc., the oldest thoroughbred
auction company in North America.
Synergy Investments Ltd. will take over the company, which holds
auctions in Lexington, Ky., as well as New York, Maryland, Florida
and Texas.
Abdulla Al Habbai, a close associate of Dubai ruler Sheikh
Mohammed, controls Synergy. The sheikh has been a prominent player
in North American thoroughbred auctions, including placing numerous
multimillion dollar bids at rival Lexington auction house
Fasig-Tipton was founded in 1898.

(Copyright 2008 by The Associated Press. All Rights Reserved.)