Bill Barry-Cotter to buy Riv?
Buyback could be imminentAfter much speculation and rumour, it has been reported in the Gold Coast Bulletin that industry stalwart Bill Barry-cotter has been negotiating to buy back Riviera, the company he sold a decade ago for $180 million.
Mr Barry-Cotter sold Riviera in 2002 and subsequently started up rival boat manufacturing company Maritimo.
Rumour has it that the buy-back price could be as low as $30 million.
Stephen Milne, spokesman for Riviera, said that there were a number of parties interested in the business but would not be drawn on who they were.
"We have people both from Australia and overseas who are interested in Riviera. There are offers on the table but we can't comment on who has presented them." he said.
"There is significant interest and if the right offer is presented, then a decision will be made on the future ownership of the company.
"We have 4800 Riviera owners throughout the world who are interested in the best outcome for the company," Mr Milne said.
The Bulletin reported that Mr Barry-Cotter had been negotiating with the receivers at Riviera since last year.
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