Australian boatbuilder Mustang Marine has offered to buy fellow Aussie manufacturer Riviera, which is in voluntary receivership, according to a report in Gold Coast Publications.

The receivers and managers are looking to preserve the long-term viability of the company, restructure the business and sell it as a going concern, Riviera said in a recent statement.

Riviera, Australia's largest luxury-boat builder, manufactures open and closed flybridge yachts, offshore express models and sportyachts from 33 to 70 feet.

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