06:27 AM EDT, 10/07/2024 (MT Newswires) -- Vista Outdoor ( VSTO ) signed a definitive deal to sell its Revelyst unit to funds managed by Strategic Value Partners under an all-cash transaction of about a $1.3 billion enterprise value.
The company said Friday it also signed an amendment to its merger deal with Czechoslovak Group for the acquisition of The Kinetic Group, increasing the latter's purchase price to about $2.23 billion.
Vista Outdoor ( VSTO ) said Revelyst's sale is subject to the completion of Czechoslovak Group's acquisition of The Kinetic Group.
The Kinetic Group's acquisition is expected to close by January 2025, according to the statement. Upon closure, Czechoslovak Group will pay Vista Outdoor ( VSTO ) about $2.23 billion, with each Vista Outdoor ( VSTO ) shareholder to receive $25.75 in cash and 1 common Revelyst share for each Vista Outdoor ( VSTO ) share held.
Upon closing the sale of Revelyst, Revelyst shareholders will receive about $19.25 in cash per Revelyst share held by the Strategic Value Partners funds. Vista Outdoor ( VSTO ) said this amount is based on management's estimates.
The company said the two transactions are estimated to deliver a total of $45 in cash per share to Vista Outdoor ( VSTO ) shareholders.
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