BLUE GASS BREEDERS <BLGR> COMPLETES ACQUISITION
Blue Grass Breeders Inc said it has
completed the acquisition of Equine Enterprises Inc for four
mln common shares.
    It said it is obligated to deliver another 2,741,660 shares
on the attainment of a certain level of shareholders' equity
during any fiscal quarter within 12 months of closing.
    If all the contingent shares are issued, Blue Grass said
former owners of Equine will have a 75 pct interest in Blue
Grass.
    Equine is a New Mexico quarter horse breeding and racing
company.
 Reuter
