CSG Urges Vista Outdoor Stockholders to Vote for its $2.15 Billion Acquisition of The Kinetic Group and $150 Million Investment in Revelyst
24 9월 2024 - 9:30PM
Business Wire
October 9th Special Meeting is Last Possible
Date for Vista Outdoor Stockholders to Vote to Approve CSG Merger
Agreement Ahead of October 15th Termination Date; CSG Will Not
Agree to Any Further Adjournment of Special Meeting
CSG Continues to Engage with Private Equity
Firm to Reach Mutually Acceptable Agreement Regarding Potential
Sale of Revelyst; Cautions that Notable Challenges Remain
Czechoslovak Group ("CSG" or the “Company”), a leading global
industrial holding company, today reaffirmed its commitment to
successfully completing the transaction with Vista Outdoor Inc.
(NYSE: VSTO) ("Vista Outdoor") to acquire The Kinetic Group for
$2.15 billion and invest $150 million in Revelyst (the “CSG
Transaction”).
CSG urges all Vista Outdoor stockholders to vote in favor of the
CSG Transaction at Vista Outdoor’s October 9th special meeting. CSG
will not agree to any further adjournment of the Vista Outdoor
special meeting and reiterates that October 9th is the last
possible date for Vista Outdoor to hold its special meeting of
stockholders ahead of the October 15th termination date in the
merger agreement.
Michal Strnad, Chief Executive Officer and the owner of CSG,
commented, “We are committed to executing our fully financed
transaction with Vista Outdoor, which we believe maximizes value
for Vista Outdoor stockholders. With the October 15th termination
date for the transaction fast approaching, the upcoming October 9th
special meeting will be the last and final opportunity for Vista
Outdoor stockholders to vote to receive $2.15 billion in cash value
for The Kinetic Group and shares of Revelyst – in which CSG has
committed to invest $150 million for a 7.5% stake.”
CSG has been in active dialogue with Vista Outdoor and the
private equity firm partnered with MNC Capital (the “Private Equity
Firm”), regarding a potential sale of Revelyst, separate and apart
from MNC. CSG notes that the Private Equity Firm’s most recent
proposal to acquire Revelyst would require CSG to amend the terms
of its agreement with Vista Outdoor in a manner adverse to CSG. CSG
will continue its discussions with the Private Equity Firm;
however, there is no certainty any such agreement will be reached
or that CSG would agree to the terms the Private Equity Firm is
seeking to impose on CSG.
Strnad continued, “We remain open minded and are working in good
faith with the Private Equity Firm and Vista Outdoor to see if a
mutually beneficial outcome can be achieved; however, we continue
to have serious concerns with the Private Equity Firm’s latest
proposal. While we will continue to engage with the Private Equity
Firm, there remain notable challenges that need to be
overcome.”
About CSG
The global industrial and technological group CSG, owned by
Czech entrepreneur Michal Strnad, has key production facilities in
the Czech Republic, Slovakia, Spain, Italy, India, the UK, and the
U.S. and exports its products worldwide. CSG is continuously
investing into the development of its companies while expanding in
its core business areas. The Group includes, for example, the Czech
truck manufacturer Tatra Trucks, the world's leading manufacturer
of small caliber ammunition Fiocchi, and the Czech radar
manufacturer Eldis. More than 10,000 employees work in the
companies included in the CSG group and in their associated
companies. In 2023, the Group's consolidated sales reached USD 1.73
billion. CSG's main fields of activity are the engineering,
automotive, rail, aerospace, and defense industries and small
caliber ammunition production. CSG's products can be found on all
continents thanks to its strong export orientation.
CSG´s companies in Europe are major suppliers of tanks,
artillery systems and high caliber ammunition for Ukraine which is
co-financed also by the U.S. and other NATO member states.
J.P. Morgan is acting as sole financial adviser to CSG with
Clifford Chance LLP acting as legal adviser.
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version on businesswire.com: https://www.businesswire.com/news/home/20240924599855/en/
Media contacts:
United States: Dan Zacchei / Joe Germani Longacre Square
Partners dzacchei@longacresquare.com /
JGermani@longacresquare.com
CSG Corporate: Andrej Čírtek +420 602 494 208 e-mail:
andrej.cirtek@czechoslovakgroup.cz
Vista Outdoor (NYSE:VSTO)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024
Vista Outdoor (NYSE:VSTO)
과거 데이터 주식 차트
부터 11월(11) 2023 으로 11월(11) 2024
