Cohen & Gresser advised Sierra Nevada Corporation (SNC) and its subsidiary Deutsche Aircraft Holdings (DAH) as lead counsel in connection with an important minority equity investment in DAH. The investment comes from a joint venture formed between OHB SE, a leading European space technology corporation, and AFK Enterprise AG, a Swiss-based family office, and will propel the development of new green aviation technologies including the D328eco®, an environmentally friendly version of the acclaimed Do328 short-haul passenger aircraft manufactured by Deutsche Aircraft GmbH. With new propulsion systems, latest-generation avionics and more seats, the D328eco is anticipated to set new standards for environmentally friendly short-haul flying.
The equity stake in DAH is subject to approval from the German Government which is currently supporting development of the D328eco with a high-volume development cost loan which, supports development of clean aviation initiatives at Deutsche Aircraft. The transaction is anticipated to close during the first quarter of 2023 following regulatory approvals and other customary closing conditions. The terms of the transactions were not disclosed.
The Cohen & Gresser team was led by Jeffrey M. Bronheim and Daniel H. Mathias, with assistance from C&G associates James Mossetto and Georgia Moorhouse.