Vista Outdoor Clears Key Milestone In Sale Of The Kinetic Group To CSG And The Separation Of Revelyst Into A Standalone Public Company; Vista Outdoor To Hold A Special Meeting And Vote To Approve The Transaction On May 16, 2024; Transaction Remains Subject To Receipt Of The Remaining Required Regulatory Approvals
Portfolio Pulse from Benzinga Newsdesk
Vista Outdoor Inc. (VSTO) has announced a significant step in its strategic plan with the SEC's approval of Revelyst's registration statement for the sale of The Kinetic Group to Czechoslovak Group (CSG). This move is aimed at unlocking stockholder value by separating its segments into standalone companies. A special meeting for stockholder approval is set for May 16, 2024. The transaction is expected to enhance long-term growth for both Revelyst and The Kinetic Group, with Revelyst anticipating $100 million in cost savings by FY2027.
March 22, 2024 | 1:28 pm
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Vista Outdoor Inc. is progressing with its strategic plan to sell The Kinetic Group to CSG and separate Revelyst into a standalone company, aiming to unlock stockholder value and foster long-term growth.
The SEC's approval of Revelyst's registration statement is a critical step towards completing the sale of The Kinetic Group to CSG, indicating progress in Vista Outdoor's strategic restructuring. This development is likely to be viewed positively by investors as it not only simplifies the company's structure but also aims to unlock value for stockholders. The anticipation of $100 million in cost savings by FY2027 for Revelyst further underscores the potential for improved financial performance and stockholder returns in the long term.
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