Czech gunmaker Česká Zbrojovka group (CZG) has signed the final agreement for the acquisition of the 100% stake in Colt Holding Company. The value of the transaction reaches USD 220m in cash and 1.1 million newly issued common shares.
The transaction is subject to regulatory approval. It will likely be settled in 1H of 2021. With the acquisition, CZG will acquire additional production capacities in the US and Canada and expand its customer network. Colt is a traditional supplier to the U.S. Army (from 1846) and, through its Canadian subsidiary, also an exclusive supplier of small arms to military forces in Canada.
Source: ČIA News, www.cianews.cz/en
Prepared by the team of CzechTrade Jakarta