CFIUS Clears Ammunition Maker’s Sale to Czech Firm
The Committee on Foreign Investment in the U.S. has approved the $2 billion sale of Vista Outdoor’s Kinetic Group business, formerly Sporting Products, to Czechoslovak Group (CSG), the buyer and seller announced June 25.
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“We are very pleased that CFIUS has carefully vetted the transaction and, as we expected, determined that there are no unresolved national security concerns,” Vista board Chairman Michael Callahan said.
The CFIUS clearance is the final regulatory approval required for CSG to buy the Kinetic Group, an American manufacturer of firearms ammunition, the announcement says. The ownership transfer, first disclosed in October, still needs the approval of Vista stockholders, who are scheduled to vote July 2.
While Sen. J.D. Vance, R-Ohio, urged CFIUS in January to investigate the proposed sale, claiming CSG had ties to Russian authorities, CSG denied his allegation and cited its work with the West and Ukraine (see 2401250057).