NEWS: Maritimo Buys Riviera?

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The rumour mill is spinning out of control about Maritimo buying Riviera after it went into receivership on Friday. But after initially quashing that theory, Maritimo has now told the Gold Coast Bulletin that it is interested in the real estate and, at the right price, the business, reports DAVID LOCKWOOD.

While rumours that Maritimo CEO Bill Barry-Cotter is poised to take over Riviera, the company he established in 1980, were dismissed as "absolute rubbish" soon after Riviera went into receivership, head of Maritimo, Bill Barry-Cotter, has since said he's interested in the site and at least some of the business at the right price. He told the Gold Coast Bulletin that he would be interested in the property and "might even be interested in the business."

Barry-Cotter said he was looking forward to talking to (receivers) Deloitte. The doyen of boatbuilding sold Riviera for $168 million in 2002 and walked away with about $140 million from the deal.

Should he acquire Riviera's assets, Barry-Cotter said he would merge his two Gold Coast factories into the Riviera existing waterfront site.


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