Mustang Marine - a deal has been done!

Mustang Marine
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Receivers Ferrier Hodgson has chosen a preferred bidder for Australian boat builder Mustang Marine.

However, Peter Gothard, a senior partner with the firm, was unable to divulge the name. He said no name would be released until the contracts had been signed.

'That’s fairly normal procedure,' he said, 'we will be working on finalising details over the weekend and hope to make an official announcement by later today.

Asked if the proposed buyer local or international, Mr Gothard said he was again unable to say. 'The confidentiality is strict at this stage,' he explained.

Again, asked if the company would remain at its Gold Coast address, Mr Gothard said it was highly likely.
'That certainly appears to be the case, I think the end result has been a very good deal for all concerned,' he added.
Mustang Marine 4600 Sportscruiser

The manufacturer was placed into receivership on October 19.

Varying reports failed to confirm the reasons for receivers being called in.

A week ago, Mr Gothard said a number of credible people had registered a number of credible bids. 'For the past week we have been examining those bids and have finally selected the preferred bidder,' he said. 'At this stage, I cannot offer any further information until all contracts are signed. We will make an announcement as soon as that is finalised.'