Oct 16 (Reuters) - Vista Outdoor (VSTO.N) said on Monday it would sell its sporting products business in a $1.91 billion deal, although its shares tumbled about 20% in early trading after it cut its full-year sales forecast.
The all-cash sale of the sporting products unit, which includes its guns and ammunition business, to privately held Czechoslovak Group a.s. (CSG) is expected to close next calendar year, Vista Outdoor said.
Earlier this month, Vista spun off its outdoor products segment, which includes helmets and water bottles, into a separate publicly traded company called Revelyst as part of its previously announced plan.
Vista said in a call with analysts and investors that the separation of its sporting and outdoor goods units will be formalized at the closing of its deal with CSG.
CSG said it plans to take $1.11 billion of debt financing to fund the deal with Vista Outdoor.
Persons:
Andy Keegan, Vista, Fiocchi Munizioni, Juveria Tabassum, Jason Hovet, Jan Lopatka, Savio D'Souza, Shweta Agarwal
Organizations:
Vista, CSG, Thomson
Locations:
Ukraine, Prague