Deutsche Aircraft Holdings acquires minority stake in DAH Beteiligungsgesellschaft
Wessling / Munich. — Deutsche Aircraft Holdings (DAH), the sole owner of the companies in the Deutsche Aircraft Group, recently secured an important minority interest in DAH Beteiligungsgesellschaft mbH, which is jointly held by OHB and AFK.
The investment is being made through a joint venture between aerospace company OHB SE and investment company AFK Enterprise AG, and will drive the development of new green aviation technologies including D328eco™, an environmentally friendly version of the proven Do328® short-range passenger aircraft manufactured by Deutsche Aircraft GmbH. Under the agreement, the investors have the option of acquiring further shares up to a majority stake at a later date.
Deutsche Aircraft’s D328 series is based on the proud heritage of Dornier, and Deutsche Aircraft holds the type certificate for the Do328®. With new propulsion systems, latest generation aviation technology and more seats, the D328eco will set new standards for environmentally friendly short-haul flying. Deutsche Aircraft is also investigating various alternative fuels and future climate-neutral propulsion systems as part of its product roadmap. The Do328 is the last commercial aircraft to date to have been developed and built entirely in-house by a German company — and this will also be the case with the D328eco.
The investment in DAH is subject to the approval of the German government, which is 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.
Advisors to Deutsche Aircraft Holdings (DAH): SKW Schwarz
Lead Partner Dr. Kolja Petrovicki together with Cohen & Gresser (US law, UK law) and Carey Olsen (Cayman Islands law).
Consulting Attorneys: Dr. Kolja Petrovicki, LL.M. (UPenn), (Corporate/M&A, lead), Dr. Oliver M. Bühr (Corporate/M&A), Dr. Tatjana Schroeder (Restructuring), Alexander Möller, Sabrina Hochbrückner (both Labor Law), Stefan Skulesch (Tax) (all Frankfurt); Dr. Klaus Jankowski, Maria Rothämel (both Public Law, both Berlin), Heiko Wunderlich (Tax); Eva Bonacker (Merger Control) (both Munich).
About SKW Schwarz
SKW Schwarz is an independent law firm with 130 lawyers, four locations and a common claim: We think ahead. As a full-service law firm and member of TerraLex, we are globally networked and advise in all relevant areas of business law. Also in an area that is particularly important for companies: the future. We analyze, create clarity and provide advice today in the key legal areas of tomorrow.
About AFK Enterprise
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 its international focus, AFK actively pursues and engages in a variety of high-tech investment opportunities in Europe, the U.S. the Middle East, India, Asia, and emerging markets.
About OHB SE
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 realization 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 sales of around one billion euros.
About Deutsche Aircraft GmbH
Deutsche Aircraft is Germany’s new targeted OEM. Deutsche Aircraft’s new D328eco™ aircraft, based on the legacy of aviation pioneers, is designed to significantly reduce operating and maintenance costs and lower the overall carbon footprint. This is in line with Deutsche Aircraft’s vision and strategic roadmap to support a more sustainable future for aviation. The D328eco will offer maximum flexibility as it can run on existing aviation gasoline as well as 100% H2-PtL. The aircraft is assembled in the paperless finishing line (FAL) in Leipzig/Germany. All parameters are in high demand in the current aviation environment, and there is already increased interest in the D328eco among potential customers and partners.