{"id":102692,"date":"2024-06-26T13:45:33","date_gmt":"2024-06-26T18:45:33","guid":{"rendered":"https:\/\/milesfortis.com\/?p=102692"},"modified":"2024-06-26T16:28:46","modified_gmt":"2024-06-26T21:28:46","slug":"102692","status":"publish","type":"post","link":"https:\/\/milesfortis.com\/?p=102692","title":{"rendered":""},"content":{"rendered":"

CFIUS Clears Sale of The Kinetic Group to CSG<\/a><\/p>\n

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Represents Final Regulatory Approval Required to Close the Transaction<\/i><\/p>\n

Board of Directors Continues to Recommend Stockholders Vote in Favor of Merger Agreement Proposal at Special Meeting on July 2, 2024<\/i><\/p>\n<\/div>\n

ANOKA, Minn.–(BUSINESS WIRE)–\u00a0<\/span>Vista Outdoor Inc. (\u201cVista Outdoor,\u201d the \u201cCompany,\u201d \u201cwe,\u201d \u201cus\u201d or \u201cour\u201d) (NYSE: VSTO) and Czechoslovak Group a.s. (\u201cCSG\u201d) announced today that the Committee on Foreign Investment in the United States (\u201cCFIUS\u201d) has cleared CSG\u2019s proposed acquisition of Vista Outdoor\u2019s The Kinetic Group business (the \u201cTransaction\u201d). Vista Outdoor and CSG received written notice from CFIUS that CFIUS has concluded its review and investigation of the Transaction and has determined that there are no unresolved national security concerns. CFIUS clearance was the final regulatory approval required under the merger agreement with CSG for the closing of the Transaction.<\/p>\n

Michael Callahan, Chairman of the Board of Directors, said \u201cWe are very pleased that CFIUS has carefully vetted the Transaction and, as we expected, determined that there are no unresolved national security concerns.\u201d<\/p>\n

CFIUS is an interagency committee of the U.S. government authorized to review certain transactions involving foreign investment in the United States to determine the effect of such transactions on U.S. national security.<\/p>\n

\u201cThe CFIUS process involved a thorough review and investigation of the Transaction by numerous U.S. Government departments and agencies with a range of national security and other mandates,\u201d Callahan said. \u201cWe believe the end result supports our view that CSG\u2014which has deep expertise in supply chain excellence and ammunition manufacturing and strong support for NATO and allied nations\u2014will be an excellent owner of The Kinetic Group. CSG is fully committed to supporting our American workforce, American hunters and domestic and allied military and law enforcement partners.\u201d<\/p>\n

The closing of the Transaction remains subject to receipt of the approval of Vista Outdoor\u2019s stockholders and other customary closing conditions. The special meeting of Vista Outdoor stockholders to, among other things, consider and vote on a proposal to adopt the merger agreement with CSG is scheduled to be held virtually on July 2, 2024, at 9:00 a.m. Central Time.<\/p>\n

The Board continues to recommend Vista Outdoor stockholders vote in favor of the proposal to adopt the merger agreement with CSG. Vista Outdoor is confident that the Transaction will maximize value for our stockholders by<\/p>\n