The company's $1.9B deal hinges on CFIUS ruling.
Share on linkedin A second U.S. Senator has warned the Treasury Department against a $1.9 billion deal involving the sale of a U.S. ammunition business to a Czech arms dealer.Growing opposition to Vista Outdoor's ammo unit deal with the Czechoslovakian Group could lead to the sale being blocked.to Treasury Secretary Janet Yellen late on Tuesday that raised national security concerns about Vista Outdoor's agreement to sell its Sporting Products division to CSG.
Kennedy accused CSG of having business ties to China and raised the concern of a foreign owner controlling the supply and production of primers, an ammunition propellent. The division makes ammo and related components that it sells to gun owners, hunters, and U.S. state and federal law enforcement agencies, including the U.S. Army.The letter was addressed to Yellen because the Committee on Foreign Investment into the United States , which is currently reviewing the Vista-CSG agreement, sits within Treasury. CFIUS could decide to allow the deal to move forward, or it could decide to block it.
"Several of our companies hold top NATO security clearances and we work with U.S. defense companies. This would not be possible if we did business with U.S. adversaries such as Russia or China," CSG said.Vista voluntarily withdrew its initial filing to CFIUS and refiled its CSG agreement notice to the committee on March 28, giving the government agency more time to conduct its review.
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