NuWays AG Reiterates "Sell" Rating for OHB SE Amidst Pending FDI Approval

NuWays AG has reaffirmed its "Sell" recommendation for OHB SE, driven by the pending Foreign Direct Investment (FDI) approval from Belgium. This approval is crucial for the completion of KKR's takeover of OHB subsidiary Antwerp Space N.V. Management remains optimistic about closing the deal by the long-stop date of September 30, 2024, despite the delay caused by Belgian authorities beginning their review after Germany granted its FDI approval on May 29, 2024.

OHB’s management is in close contact with KKR and Belgian authorities, expressing confidence in securing the necessary approval. Concerns exist about the potential for the deal to lapse if the approval is not granted, but most stakeholders believe this scenario is unlikely given the absence of strategic risks.

NuWays AG's "Sell" rating aims to mitigate risks for investors holding untendered shares, which could suffer from illiquidity or delisting if the deal faces complications. The complete research report is available for download, offering further details on the analysis and potential outcomes.