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Czech company negotiating to acquire CT gun maker Colt
Pablo Robles
Colt's West Hartford facility.
Czech Republic firearms manufacturer Česká zbrojovka Group SE (CZG) announced it is negotiating to acquire West Hartford gun maker Colt Holding Co.
The two companies reached "an agreement in principle" on the most important aspects of CZG's prospective purchase of the 175-year-old Colt, according to CZG. Details of negotiations or possible terms of the transaction were not disclosed.
"Execution of the definitive documentation for the transaction is estimated to take place by the end of January 2021," CZG said, noting that timeline is subject to completing the negotiations, finalizing documents and getting approvals from all stakeholders.
Colt did not return a message requesting comment Wednesday morning.
If negotiations successfully close this month, the companies would still need regulatory approval for CZG to acquire Colt, according to the Czech company.
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This special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
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Subscribe
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
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2023 Book of Lists
Delivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
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