Osborne Clarke has successfully advised QinetiQ Limited on a sector specific foreign direct investment procedure according to Sec. 60 German Foreign Trade Regulation which had been initiated by German Federal Ministry of Economy and Energy with respect to the acquisition of E.I.S. Holding GmbH.
The acquisition of the aviation operations business (E.I.S. Holding GmbH) of the E.I.S. Aircraft Group from EQT Mid Market for EU 70 million in early 2018 initiated the foreign direct investment procedure. Osborne Clarke also advised on its successful completion, which was subject to the approval of German Federal Ministry of Economy and Energy. EQT Mid Market remains to be invested in the aircraft interior equipment and maintenance services focused business part of products and services of E.I.S. Aircraft Group. The sector specific foreign direct investment procedure lasted six months and is one of several which Osborne Clarke currently advises on.
QinetiQ is a leading science and engineering company operating primarily in the defence, security and aerospace markets. The customers are predominantly government organisations, including defence departments as well as international customers in other targeted sectors. German E.I.S. Holding GmbH is a leading provider of airborne training services for civil and military aviation businesses. It is currently active for German Bundeswehr and allied NATO partners. The trainings are offered on the basis of an own fleet of aircraft.
An Osborne Clarke team led by partner Dr Christoph Torwegge (M&A, foreign trade law) and Theresa Gutsche (foreign trade law) advised QinetiQ on the sector specific foreign direct investment procedure.