Riviera CEO: Sale ru­mour doesn’t float my boat

NT News - Motoring - - CARS GUIDE - By TANYA WESTTHORP

RIVIERA has shot down ru­mours the boat build­ing com­pany is back on the mar­ket just months af­ter it was sold.

Riviera CEO Wes Moxey said it was ‘‘ab­so­lute rub­bish’’ that the Coomera-based lux­ury boat com­pany had put up the For Sale sign again, de­spite ru­mours cir­cu­lat­ing within the in­dus­try.

‘‘I’ve also heard that ru­mour, one of the deal­ers asked me,’’ he said.

‘‘We are al­ways get­ting ap­proaches and there are var­i­ous par­ties from Asia that are look­ing around for deals but it is not for sale.’’

Mr Moxey said Rod­ney Longhurst, who bought Riviera in March this year, had no in­ten­tion of sell­ing but may be swayed if the price was right.

‘‘He didn’t buy it to sell,’’ said Mr Moxey. ‘‘He’s not the guy to sell but ev­ery­one has got a price.

‘‘It is not the time to be rush­ing out and desta­bil­is­ing the busi­ness.

‘‘Our com­peti­tors are prop­a­gat­ing these ru­mours.’’

Mr Longhurst was among sev­eral buy­ers who bat­tled to pur­chase Riviera ear­lier this year af­ter the com­pany spent re­cent years in re­ceivers’ hands.

Mar­itimo boss Bill Barry-Cot­ter, who built Riviera then sold it for $180 mil­lion in 2002, made a failed bid to buy back the com­pany but is said to have lost in­ter­est.

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