20 December 2022
Taylor Wessing has advised Bremen-based space company OHB SE (OHB) on the formation of a joint venture with investment company AFK Enterprise AG (AFK). The joint venture of the two companies, also with the support of Taylor Wessing, signed an agreement a few days ago to secure a minority stake in Deutsche Aircraft Holdings (DAH). DAH holds 100% of the shares in Deutsche Aircraft Group and works on the development of innovative environmentally friendly technologies for aviation. The focus is on their aircraft type D328eco®, an environmentally friendly version of the proven short-haul passenger aircraft Do328. Under the agreement, the investors have the option to acquire further shares up to a majority stake in DAH.
OHB was legally advised on this transaction by a multinational team led by Hamburg M&A specialists Amir-Said Ghassabeh and Robert Wethmar.
The investment in DAH is subject to the approval of the German government, which is currently supporting the development of the D328eco® with a large-volume development cost loan and is also supporting the development of clean aviation initiatives at Deutsche Aircraft. The transaction is expected to close in the first quarter of 2023, once regulatory approvals and other customary closing conditions are satisfied.
OHB SE is a German space and technology group and one of the leading independent forces in the European space industry. With many years of experience in the realisation of sophisticated projects, OHB SE is excellently positioned in international competition and offers its customers a broad portfolio of innovative products in the three business units: Space Systems, Aerospace and Digital. The Company employs around 3,000 people and generates total revenues of around one billion euros.
AFK Enterprise AG, based in Switzerland, the industrial arm of the AFK Kumar Family Office, is a private family office charged with the preservation, management and growth of the AFK Kumar family's wealth. AFK makes strategic investments across a broad spectrum of markets, with a focus on equity and growth capital. With an international focus, AFK actively pursues and engages in a variety of investment opportunities in the high-tech sector in Europe, the US, the Middle East, India, Asia and emerging markets.
Deutsche Aircraft is Germany's new targeted OEM. Deutsche Aircraft's new D328eco® aircraft, based on the heritage of aviation pioneers, has been designed to significantly reduce operating and maintenance costs and reduce the overall CO2 footprint. This is in line with Deutsche Aircraft's vision and strategic roadmap to support a more sustainable aviation future. The D328eco® will offer maximum flexibility as it can run on existing aviation fuel as well as 100% H2-PtL. The aircraft will be assembled in the paperless final assembly line (FAL) in Leipzig/Germany.
Taylor Wessing Germany: led by Dr Amir-Said Ghassabeh (Salary Partner, Corporate/M&A, Hamburg) and Robert Wethmar (Partner, Corporate/M&A, Hamburg) with significant support from Dr Holger Schrewe (Partner, Corporate/M&A, Hamburg) and Sven Bolay (Senior Associate, Corporate/M&A, Hamburg) as well as Dr Wiebke Baars (Partner, Brands & Advertising, Hamburg), Dr Michael Brüggemann (Partner, Competition, EU & Trade, Düsseldorf), Dr Marco Hartmann-Rüppel (Partner, Competition, EU & Trade, Hamburg), Prof. Dr Norbert Kämper (Partner, Environmental, Düsseldorf). Michael Brüggemann (Partner, Competition, EU & Trade, Düsseldorf), Dr Marco Hartmann-Rüppel (Partner, Competition, EU & Trade, Hamburg), Prof. Dr Norbert Kämper (Partner, Environmental, Planning & Regulatory, Düsseldorf), Dr Martin Knaup (Partner, Disputes & Investigations, Hamburg), Dr Jan Phillip Rektorschek (Partner, Patents & Innovation, Munich) , Dr. Tobias Schelinksi (Partner, IT/Data, Hamburg), Jonas Warnken (Salary Partner, Employment, Hamburg), Dr. Patrick Zurheide (Associate, IT/Data, Hamburg), Dr. Peter Seemann (Partner, Banking & Finance, Hamburg), David Mallmann (Senior Associate, Projects, Energy & Infrastructure, Hamburg), Wilhelm Freiherr von Feilitzsch (Associate, Disputes & Investigations, Hamburg), Lara, Skotki (Associate, Competition, EU & Trade, Hamburg), Julia Fischer (Associate, Patents Technology & Life Sciences, Munich) , Birte Zeitner (Associate, Environmental, Planning & Regulatory, Düsseldorf), Dr. Victoria Bratvogel (Associate, Competition, EU & Trade, Düsseldorf), Lisa Maria Bütow (Associate, Employment, Hamburg), Christin Reinke (Associate, Banking & Finance, Hamburg)
Taylor Wessing UK: Philip Shepherd (Partner), Ed Chapman (Senior Associate), Richard Price (Associate), all Corporate/M&A, all London
by multiple authors
by multiple authors
by multiple authors