SYDNEY – Australian coal tycoon Nathan Tinkler put his thoroughbred breeding and racing empire on the market on Tuesday, saying he no longer had enough time to devote to the business.
Media reports suggested the package, which includes more than 1,000 horses on a 1,335-hectare property in the Hunter Valley north of Sydney and another 1,000 acres in Queensland, could fetch A$125 million (US$131 million).
Singapore-based Tinkler, 37 – one of Australia’s richest young entrepreneurs – said the sale of the franchise Patinack Farm would allow him to focus on his resources, port and rail, and property assets.
“As I am spending more time overseas, I do not have the time to manage the business… (It) represents a terrific opportunity for a local or international owner to develop the business to be a world leader,” Mr Tinkler said in a statement.
Australian tycoon"s racing empire on the block
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