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Leading international law firm Herbert Smith Freehills has advised OneWeb, Bharti Global and the UK Government (through the Secretary of State for Business, Energy and Industrial Strategy) on a US$300m investment in OneWeb from Hanwha, the South Korean Fortune 500, global technology and manufacturing company.

This investment brings OneWeb’s total equity investment since November 2020 to US$2.7 billion with no debt issuance. The investment is expected to be completed in the first half of 2022, subject to regulatory approvals.

The Herbert Smith Freehills team was led by OneWeb relationship partners Alan Montgomery and Gavin Davies and senior associates Siddhartha Shukla and Martyn Jones, with support from Savy Jajmann and Sophie Lundsberg.  Specialist advice was provided by David Coulling (TMT), Veronica Roberts and Max Kaufmann (Regulatory), and Isaac Zailer (Tax).

Alan Montgomery commented: “It has been a tremendous privilege to work with OneWeb, Bharti, Her Majesty’s Government, OneWeb, and Hanwha on this significant investment and also to continue to be part of the OneWeb story.”

Herbert Smith Freehills had also advised OneWeb on investments by Softbank and Hughes (see here), Eutelsat (see here), and had earlier advised Bharti and its consortium with the UK Government on the acquisition of OneWeb (see here).

Key contacts

Alan Montgomery photo

Alan Montgomery

Partner, Co-Head Pharmaceuticals, Co-Head of India Practice, London

Alan Montgomery
Gavin Davies photo

Gavin Davies

Head of Global M&A practice, London

Gavin Davies
Siddhartha Shukla photo

Siddhartha Shukla

Partner, London

Siddhartha Shukla
Martyn Jones photo

Martyn Jones

Of Counsel, London

Martyn Jones
David Coulling photo

David Coulling

Partner, London

David Coulling
Veronica Roberts photo

Veronica Roberts

Partner, UK Regional Head of Practice, Competition, Regulation and Trade, London

Veronica Roberts
Isaac Zailer photo

Isaac Zailer

Partner, London

Isaac Zailer
Max Kaufman photo

Max Kaufman

Senior Associate, London

Max Kaufman

Media contact

For further information on this article please contact

Lydia Lam

Head of Communications, UK, US & EMEA

London