Firm Offers Cash Out to Investors who Own Shares in Remington Outdoor
May 19, 2015; Private equity firm Cerberus Capital issued a letter to its investors on Friday, advising them that they are permitted to sell their stakes in Remington Outdoor (formerly known as Freedom Group). Investors now have thirty days to make a decision as to whether they want to sell their shares in the country’s oldest firearm manufacturer. Despite its public commitment to sell Remington Outdoor following the shooting in Newtown, Connecticut, Cerberus itself has not yet done so, chiefly citing that it has not found an acceptable offer. Investors who decide to not sell their shares will have their shares transferred to a separate financial entity, as Cerberus is planning to remove Remington from its main private equity funds.