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Dubai's ruler to buy Aussie horse business
- United Arab Emirates: Tuesday, May 13 - 2008 at 13:19
Dubai's ruler, Sheikh Mohammed bin Rashid al-Maktoum, has received approval to buy Australia's largest thoroughbred horse breeding business, reported Bloomberg. The Foreign Investment Review Board has approved the Sheikh's purchase of Inghams Enterprises, which is estimated to be worth $473m. Sheikh Mohammed, who owns stud farms in five countries, will take ownership 1,000 Australian thoroughbreds, the Woodlands stud farm, and racetrack training facilities in Sydney and Melbourne.
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Jeff Florian, Senior ReporterTuesday, May 13 - 2008 at 13:19 UAE local time (GMT+4)
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