2024.02.19 ISM Roundup

Written by
Gabriella Couloubaritsis
Feb. 18, 2024

U.S. Updates List of Critical and Emerging Technologies 

Source: White House Press Release 

The White House Office of Science and Technology Policy published an updated List of Critical and Emerging Technologies, which is used to inform areas significant to the U.S. government’s national security. This list revises the two previous versions from October 2020 and February 2022 by adding three new areas: clean energy generation and storage; data privacy, data security, and cybersecurity technologies; and positioning, navigation, and timing technologies. The list also appears to focus more on core technologies rather than on technology applications. 

Shipowner Reports $1.8B USD Takeover Bid May Be Subject to Italy’s Golden Powers 

Source: Vitol Press Release 

This past week, the Netherlands-based, commodity trading company Vitol reported their intention to become the largest shareholder of the Italian oil refining company Saras by purchasing the entirety of the Moratti family’s 35% share. Vitol reports that the aim of the takeover bid is to delist the company from the Milan stock exchange. Saras owns the largest single-site refinery in the Mediterranean, a power generation plant, and a renewable energy portfolio. Vitol expects the deal to require clearances under EU foreign subsidies regulations, EU antitrust regulations, and the investment screening Golden Power framework. 

U.S. Military Supplier Reports CFIUS Review of $1.91B USD Deal 

Source: SEC Filing 

Vista Outdoors, a NYSE-listed firm designing and manufacturing American outdoor equipment, reported an ongoing CFIUS review of its firearms and ammunition segment sale. The segment, the Kinetic Group, is expected to be sold to CSG, the Ceska Zbrojovka Group SE, a Prague-based firm operating in defense, aerospace, ammunition, and mobility. Based on their SEC filing, CSG and Vista Outdoor filed a joint notice with CFIUS, which was accepted on December 28, 2023. The parties have already received their U.S. antitrust clearance and their UK NSI notification. CSG will pay a termination fee equal to $114.6 million if the transaction does not close due to a failure to obtain the required regulatory approvals. Vista has several military contracts, including with the U.S. Army, U.S. Special Ops, and ICE/DHS. Some of these contracts are through 2028. Vista Outdoors is also separating its Outdoor Products segment and listing it on the NYSE as a new standalone company named Revelyst.