Private Equity Firm To Sell Gun Interest

Transcript

DAVID GREENE, HOST:

NPR's business news starts with pressure to sell.

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GREENE: Here's an example of the business world feeling the impact of the school tragedy in Connecticut. Cerberus Capital is a private equity firm and they own a company called Freedom Group. Freedom Group was merged with the company that made one of the guns used in last week's shootings at Sandy Hook Elementary. Today Cerberus Capital said in a statement that it is looking to sell its stake in the gun manufacturer. This follows pressure yesterday from the California State Teachers Retirement System among others. Transcript provided by NPR, Copyright NPR.