Italian gunmaker Beretta to raise stake in Sturm Ruger to 25%, paper says
RGR•Beretta reportedly plans bigger stake in Sturm Ruger
ROME, Sept 17 (Reuters) - Italian gunmaker Beretta is set to launch a bid to raise its stake in U.S. peer Sturm, Ruger & Co. RGR.N to 25% from 10% "in the coming hours", Italian newspaper Il Sole 24 Ore reported on Thursday, citing sources close to the dossier.
With the move, Beretta would also be able to appoint two board members, the newspaper said.
Sturm Ruger cooperation agreement conditions satisfied
The Italian company did not immediately respond to a request for comment.
The transaction would follow Wednesday's announcement by Sturm Ruger that applicable regulatory conditions under its previously announced cooperation agreement with Beretta have been satisfied.
