11:11 AM EDT, 09/13/2024 (MT Newswires) -- Vista Outdoor ( VSTO ) said Friday that Czechoslovak Group agreed to buy a 7.5% stake in standalone Revelyst for $150 million at a price of about $31 per Revelyst share, valuing Vista's outdoor sporting gear business at $2 billion.

Czechoslovak Group offered to buy the stake as part of a deal to acquire Vista's arms unit Kinetic Group.

Czechoslovak Group's proposed investment in Revelyst increases the cash consideration for the deal by $4 per share to $28 per share as the $150 million of cash to be paid by Czechoslovak for the purchase of Revelyst shares plus additional cash from Vista Outdoor's ( VSTO ) balance sheet will be returned to Vista Outdoor ( VSTO ) shareholders, Vista said.

The company said its shareholders will get $28 in cash per share and one Revelyst common share for each Vista Outdoor ( VSTO ) common share at the closing of the revised transaction.

Revelyst intends to establish an initial $50 million stock buyback program after the completion of the transaction, Vista Outdoor ( VSTO ) said.

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