Shareholders of Vista Outdoor have approved the sale of its ammunition division, Kinetic Group, to the Czech holding company Czechoslovak Group (CSG) for approximately $2.22 billion USD. This marks the largest arms deal in modern Czech history.
On November 25, 2024, during a special general meeting, Vista Outdoor's shareholders approved the long-delayed sale of its ammunition division, Kinetic Group, to Czechoslovak Group (CSG), owned by Michal Strnad. The transaction, valued at around $2.22 billion USD, is set to be finalized on November 27, 2024.
This acquisition positions CSG as a significant player in the global ammunition market, marking a substantial expansion of its portfolio. The deal also represents the largest arms transaction in the Czech Republic's modern history, underscoring the country's growing influence in the defense industry.
Source: www.forbes.cz