April 5, 2007 / 12:04 PM / 12 years ago

Cerberus to buy gun maker Remington Arms

NEW YORK, April 5 (Reuters) - Private equity firm Cerberus Capital Management LP [CBS.UL] will buy closely held firearms maker Remington Arms Co. Inc. for $118 million, the companies said on Thursday.

As part of the acquisition of Remington, which makes guns for hunting as well as police and military uses, Cerberus has agreed to assume $252 million of debt, including a revolving credit line and subordinated notes.

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