Belgium blocks Chinese-linked acquisition of NHV helicopter operator

Belgium’s Interfederal Screening Committee (ISC) rejected the proposed takeover of Ostend‑based NHV Group by GD Helicopter Finance (GDHF), an Irish leasing company ultimately controlled by Shanghai’s GDAT Group. The deal, announced in December 2025, would have transferred control of the helicopter operator to the Chinese‑linked entity, but the ISC’s decision on 5 August 2026 halted the transaction.

NHV, which remains majority‑owned by French private‑equity firm Ardian, provides civil and parapublic rotorcraft services and supports the Belgian military’s helicopter fleet, including maintenance for Airbus H145M aircraft ordered for the armed forces and federal police. Belgian defence officials expressed concern that the takeover could jeopardise the company’s ability to service the military fleet, prompting a suspension of related contracts.

The decision reflects heightened Western scrutiny of Chinese investments in sensitive sectors such as defence and critical infrastructure. GDHF is registered in Dublin and led by CEO Michael York, while GDAT Group’s chairman Peter Jiang owns the Irish subsidiary.