Irish private equity firm FL Partners has bought the Racing Post newspaper from British group Trinity Mirror for £170m (€244m).
The key men behind FL Partners are former IBI corporate finance executives Peter Crowley and Neil Hughes. The paper's one-time editor, Dubliner Alan Byrne, has been advising FL and is to take over as editor-in-chief.
The price is around £40m short of what Trinity had hoped for when it announced it was selling the title nine months ago.
Trinity Mirror said it would make donations off £10m to four specified charities linked to the horse racing industry, at the suggestion of Sheikh Mohammed, who founded the title in 1986.
