https://www.thetruthaboutguns.com/breaking-cz-in-late-stage-talks-to-acquire-colt/
Excerpts from the article...
Apparently struggling since emerging from bankruptcy in 2016, Colt has likely drawn the eye of potential buyers ever since. Now, thanks to CZ (Česká zbrojovka) parent company CZ Group’s public filings, we know it is attempting to purchase all of Colt’s Manufacturing Company‘s assets and is well along in this process.
Since CZ Group became a public company in mid-2020, listed on the Prague Stock Exchange, we can see in the company’s own corporate filings that it’s deep in due diligence and negotiations for a potential purchase of Colt. In fact, the parties expect to wrap up the deal this month (bold text below added):
Excerpts from the article...
Apparently struggling since emerging from bankruptcy in 2016, Colt has likely drawn the eye of potential buyers ever since. Now, thanks to CZ (Česká zbrojovka) parent company CZ Group’s public filings, we know it is attempting to purchase all of Colt’s Manufacturing Company‘s assets and is well along in this process.
Since CZ Group became a public company in mid-2020, listed on the Prague Stock Exchange, we can see in the company’s own corporate filings that it’s deep in due diligence and negotiations for a potential purchase of Colt. In fact, the parties expect to wrap up the deal this month (bold text below added):
…further to our previous disclosure with respect to the Letter of Intent dated November 5, 2020 for the acquisition of 100% of the outstanding equity interest in Colt Holding Company LLC (*Colt*), CZG hereby informs that it has agreed with Colt on the extension of the exclusivity period to complete its due diligence until the end of January 2021.
The parties have reached an agreement in principle on key commercial parameters of the transaction and they continue discussing the technical parameters, regulatory review requirements, and legal terms and conditions of the transaction.
Execution of the definitive documentation for the transaction is estimated to take place by the end of January 2021, subject to completing the negotiations, finalizing the transaction documentation, and obtaining necessary approvals of the relevant stakeholders.