Four investors are said to be vying to acquire RUAG Ammotec AG, the ammunition subsidiary of Swiss state-owned defence group RUAG International Holding AG, newspaper Neue Zuercher Zeitung has reported. The deadline for the submission of offers was on February 18, 2022 and the four suitors that are reportedly interested in the business include Italy's Beretta Holding S.A., Czech group CZECHOSLOVAK GROUP a.s., Norway's Nammo AS, and CZG - Ceská zbrojovka Group SE (SEP:CZG) in partnership with former Gurit Chief Rudolf Hadorn and three other Swiss investors, the paper said. Ammotec's value is estimated at up to CHF 400 million ($435.01m/383.47m).
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