Tattersalls purchases stake in Inglis

Newmarket-based Tattersalls has announced that it has acquired a "significant

minority stake" in William Inglis and Son Ltd. The two companies will continue

to operate autonomously, but will work closely in areas of potential mutual

development.

"Tattersalls is delighted to announce the acquisition of an equity stake in

William Inglis and Son Ltd," said the auction company's Chairman Edmond Mahony.

"We view the acquisition as an investment not only in a company which is a

leader in its field, but also a company which shares the same global vision for

the bloodstock industry that has always been the cornerstone of the Tattersalls

ethos. In particular, we view the Inglis exposure to the growing markets

throughout Asia as being of huge importance in future years.

"The alliance of Tattersalls and William Inglis and Son also reflects our

confidence in the Australian racing and breeding industry which is respected and

admired throughout the world. The bedrock of any bloodstock industry is a strong

and robust racing product, and Australian racing is widely regarded as the model

to which so many other countries aspire."

"These two companies conduct bloodstock sales that engage the attention of

the global Thoroughbred industry," Mark Webster, Inglis's managing director,

commented. "We see an opportunity for our two companies to cross promote each

others services and share new ideas, innovations and resources. This new

association is a perfect fit for our two organizations and we are confident that

it will deliver benefits for our clients, both vendors and purchasers alike."