Not quite. It's really a messy situation.
Olin owns the Winchester brand, including it's use on guns, and licensed it to FN/Herstal (actually a corporate predecessor). That license expires later this year.
That's why the mayor has to ask Herstal to sell them the factory and Olin to let them have the name. He needs both to keep things going.
As for the actual rifle designs no one is saying much. It's pretty obvious that the newer Winchester designs, like the X2, belong to FN/Herstal. They can make those in Utah (they own Browning too) or Japan or Belgium.
If FN owns the rights to the Model 70, Model 94 and 1300 then there is no real compelling reason for them to sell those to a (new) competitor. Why not just move those to Belgium. Reintroduce them as the Browning Model 70, 94 and 1300 or (if those names are protected) the Browning Legacy Bolt, Lever and Shotgun.
Either way I would be surprised to see the mayor succeed. Weird he's even spending so much time on it.
Oh, yeah. They are stopping production of all those guns. At least for the time being. The announced it in a press release a few months ago. March 30 is the end of the line for them.
If memory serves, FN/Herstal is owned by the Belgian government. Somewhat incongruous to me given that Belgium is the home of 2nd Amendment-hating leftists and the capital of the EU.