Cerberus, Unable to Sell Remington, Will Let Investors Cash Out
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In 2013, protesters called on Cerberus Capital Management to divest itself of the company that produced the assault rifle used in the Sandy Hook school massacre in Newtown, Conn. CreditAndrew Burton/Getty Images
After a deadly school shooting in Newtown, Conn., more than two years ago, the Wall Street owner of the manufacturer of the rifle used in the assault publicly pledged to sell the company.
Now, having failed so far to find a buyer, the $20 billion investment firm,Cerberus Capital Management, essentially will let its investors sell their stakes in the company, Remington Outdoor, formerly the Freedom Group, and move the manufacturer out of its funds and into a special financial vehicle…
Cerberus, Unable to Sell Remington, Will Let Investors Cash Out
