Belgium has blocked the planned acquisition of Ostend-based helicopter operator NHV Group by GD Helicopter Finance, stopping a deal that would have transferred control of the offshore support specialist to a company ultimately linked to Chinese interests. NHV confirmed on 5 August that the transaction will not proceed after intervention by Belgium’s Interfederal Screening Committee, and its ownership and control will remain unchanged.
The decision lands under Belgium’s foreign investment screening regime, which covers non-EU acquisitions of control in sensitive sectors such as critical infrastructure. NHV, which is majority owned by French private investment firm Ardian, first disclosed the planned sale in December 2025.
NHV is one of Europe’s better-known B2B helicopter operators, with offshore and transport missions from its base in Ostend. GDHF is Dublin-registered and led by chief executive Michael York, but it forms part of Shanghai-based GDAT Group, which operates a helicopter fleet in China. The blocked takeover leaves NHV’s management, operations and customer commitments in place, while commercial links with GDHF are not necessarily ending.