1 minute read | November.16.2023
Orrick has successfully represented Chinese AEONMED Group against the prohibition to acquire Heyer Medical AG that the German Federal Ministry of Economics and Climate Protection had issued in the context of foreign direct investment control proceedings.
The action against the prohibition was upheld by the Berlin Administrative Court yesterday.
Following the closing of the transaction in 2019, the Ministry had initiated foreign direct investment control proceedings and ultimately prohibited the acquisition in 2022.
The acquisition, which was also advised by Orrick at the time, took place in the course of insolvency plan proceedings of Heyer Medical AG, which were successfully concluded.
Beijing-based AEONMED Group is a manufacturer of anesthesia and respiratory equipment and a provider of medical system solutions. AEONMED has subsidiaries and branches in Germany, the USA, Mexico, India, Indonesia and South Africa.
Heyer Medical AG, founded in 1883 and based in Bad Ems, Rhineland-Palatinate, is active in the areas anesthesia and ventilation equipment, which is sold in 80 countries worldwide.
AEONMED was represented by an Orrick team led by Düsseldorf partners Lars Mesenbrink and Wilhelm Nolting-Hauff, who regularly advise Chinese companies on their investments in Germany. The team further included Hang Xu, Julia Fabian and Benedikt Kamann.