Home U.S Czech company negotiating to acquire CT gun maker Colt

Czech company negotiating to acquire CT gun maker Colt


Czech Republic firearms manufacturer Česká zbrojovka Group SE (CZG) announced it is negotiating to acquire West Hartford gun maker Colt Holding Co. 

The two companies reached “an agreement in principle” on the most important aspects of CZG’s prospective purchase of the 175-year-old Colt, according to CZG. Details of negotiations or possible terms of the transaction were not disclosed.

“Execution of the definitive documentation for the transaction is estimated to take place by the end of January 2021,” CZG said, noting that timeline is subject to completing the negotiations, finalizing documents and getting approvals from all stakeholders.

Colt did not return a message requesting comment Wednesday morning.

If negotiations successfully close this month, the companies would still need regulatory approval for CZG to acquire Colt, according to the Czech company.
 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Tom Brady heading to the Super Bowl for TENTH time after Tampa Bay Buccaneers victory 

Tom Brady heading to the Super Bowl for TENTH time as...

Robin Goodfellow’s Racing Tips: Best bets for Monday, January 25 

Robin Goodfellow's Racing Tips: Best bets for Monday, January 25By Robin...

NASSER HUSSAIN: Joe Root is one in a million…. he does so much for English cricket

NASSER HUSSAIN: England captain Joe Root is one in a million.......