Former billionaire Nathan Tinkler is offering to sell his thoroughbred breeding and racing business, Patinack Farms, Tinkler who made his fortune in mining has fallen on hard times and is selling off the asset as a means to raise funds to pay off debts.
The farm includes over a thousand racehorses, stallions and mares and would be auctioned through Magic Millions Sales Pty and Ernst and Young LLP. The farm also has racing and breeding facilities in New South Wales and Queensland. Amongst the prized stallions are Casino Prince and Husson, racing thorougbreds Nechita and Pear Tart and broodmares Sun Classique and Bel Mer.
After Tinkler abandoned his bid for Whitehaven Coal Ltd in the amount of Aus$5.3 billion, he has struggled to meet debt payments as several of his companies have been eyed for liquidation for non-payment of debts and taxes.
Tinkler said in a statement, "As I am spending more time overseas, I do not have time to manage the business." He has called Singapore home since late last year.
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