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Earlier this year, Shandong Heavy scooped another European asset, when it bought a controlling stake in debt-laden Italian luxury yachtmaker Ferretti.
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Italian professional audio system group RCF and fellow yachtmaker Ferretti pulled initial public offerings (IPO) last month due to unfavourable market conditions.
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Italian luxury yachtmaker Ferretti's cancellation of its IPO last week capped a dismal European season for listings amid global trade tensions and Brexit angst.
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Built by Italian yachtmaker Benetti, Mr Packer's 108m luxury liner sleeps up to 22 guests and is able to make cross-ocean voyages.
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Wang bought UK luxury yachtmaker Sunseeker for $1.6 billion and is planning billion-dollar luxury hotel developments in London and New York.
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Yachtmakers were roiled by the market meltdown, with 80 percent forced to suspend or shut down operations.