Vista Outdoor, CSG refile notice to US regulator for approval of $1.91 bln deal

Hybrid Kinetic

28/03/2024 22:03

March 28 (Reuters) - Vista Outdoor  VSTO.N  and
Czechoslovak Group (CSG) have withdrawn and refiled a joint
voluntary notice to the U.S. foreign investment regulator
regarding an ongoing deal between the companies, Vista said on
Thursday.
    Last year, Vista Outdoor announced it would sell its
sporting products business to the privately held Czech defence
and civil manufacturing company in a $1.91 billion deal.
    The Committee on Foreign Investment (CFIUS) has initiated a
new review period upon accepting the joint voluntary notice from
Vista Outdoor and CSG. As part of its review process, it may
allow parties to voluntarily withdraw and resubmit for a
comprehensive review.  
    Vista's sporting products business was rebranded as Kinetic
Group following the company's plans to separate its outdoor and
sporting products segments into two independent, publicly traded
companies.      
    Earlier in the week, Vista Outdoor received an improved bid
from MNC Capital to acquire the company for $3 billion after
Vista turned down the earlier offer of $2.90 billion.

 (Reporting by Annett Mary Manoj in Bengaluru; Editing by Devika
Syamnath)
 ((AnnettMary.Manoj@thomsonreuters.com))