Eutelsat’s US$550 Million Investment In OneWeb

Herbert Smith Freehills has advised Bharti Global and the UK Government (through the Secretary of State for Business, Energy and Industrial Strategy) on the deal.

Eutelsat, a listed French satellite and telecommunications company, invested US$550m in OneWeb, bringing OneWeb’s total funding to just under US$2 billion.

The capital raised to date positions OneWeb to be fully funded for its first-generation satellite fleet, totalling 648 satellites, by the end of 2022.

In November 2020, Bharti Global and the UK Government completed its acquisition of OneWeb and invested US$1 billion of new equity to offer broadband connectivity services, via a constellation of 650 Low Earth Orbit satellites. OneWeb launched a further 36 new satellites, built at its Airbus Joint Venture assembly plant in Florida, USA, bringing its total fleet to 182 satellites.

The Herbert Smith Freehills team was led by OneWeb relationship partners Alan Montgomery (Picture) and Gavin Davies and senior associates Siddhartha Shukla and Martyn Jones, supported by Edward Gainer and Sophie Lundsberg. Specialist advice was provided by Veronica Roberts and Max Kaufmann (Regulatory), Aaron White and Lyndon Coppin (TMT) and Isaac Zailer (Tax).

 

 

 

Involved fees earner: Lyndon Coppin – Herbert Smith Freehills; Gavin Davies – Herbert Smith Freehills; Edward Gainer – Herbert Smith Freehills; Martyn Jones – Herbert Smith Freehills; Max Kaufmann – Herbert Smith Freehills; Sophie Lundsberg – Herbert Smith Freehills; Alan Montgomery – Herbert Smith Freehills; Veronica Roberts – Herbert Smith Freehills; Siddhartha Shukla – Herbert Smith Freehills; Aaron White – Herbert Smith Freehills; Isaac Zailer – Herbert Smith Freehills;

Law Firms: Herbert Smith Freehills;

Clients: Bharti Global Limited; UK Government;

Author: Federica Tiefenthaler