Czech Co. negotiating to amass gun maker Colt
Czech Republic firearms producer Česká zbrojovka Group SE (CZG) introduced it’s negotiating to amass West Hartford gun maker Colt Holding Co.
The 2 firms reached “an settlement in precept” on an important points of CZG’s potential buy of the 175-year-old Colt, in accordance with CZG. Particulars of negotiations or doable phrases of the transaction weren’t disclosed.
“Execution of the definitive documentation for the transaction is estimated to happen by the top of January 2021,” CZG mentioned, noting that timeline is topic to finishing the negotiations, finalizing paperwork and getting approvals from all stakeholders.
Colt didn’t return a message requesting remark Wednesday morning.
If negotiations efficiently shut this month, the businesses would nonetheless want regulatory approval for CZG to amass Colt, in accordance with the Czech firm.