Hanwha Systems’ $300 Million Investment in OneWeb

Hanwha Systems' $300 Million Investment in OneWeb

In UK Herbert Smith Freehills, Paul Hastings LLP, advised on the matter.

Herbert Smith Freehills advised Bharti Global Limited, Oneweb Global , UK Government with a team including David Coulling (Commercial Law), Gavin Davies (Corporate M&A), Alan Montgomery (Corporate M&A), Veronica Roberts (Competition Law), Isaac Zailer (Tax M&A and Deal Advisory).

Paul Hastings LLP advised Hanwha Systems with a team including Dong Chul Kim (Corporate M&A).

Hanwha Systems Co. executed its US$300 million investment in OneWeb, a U.K.-based low earth orbit satellite communications company, to acquire a 8.8% stake with certain governance rights, including a board seat. Completion of the transaction is subject to customary regulatory approvals. With this transaction, Hanwha would join other existing and prospective investors in OneWeb, including the U.K. Government, global telecom operator Bharti Global, French satellite operator Eutelsat, and SoftBank.

Hanwha Systems is a total solutions company in defense electronics and information infrastructure under South Korean conglomerate Hanwha Group. The investment enables Hanwha Systems to strengthen its satellite communications network and foster development of its space business with combined advantages.

OneWeb, headquartered in London, is a global communications network powered from space, enabling connectivity for governments, businesses, and communities. 

The Paul Hastings team was led by Seoul partner Iksoo Kim (Picture) and London partner Garrett Hayes, with support from London associates Sam Waite and Catherine Kennedy, Seoul partner Dong Chul Kim, and Seoul associate Sye Myung Kim.

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).

Involved fees earner: David Coulling – Herbert Smith Freehills; Gavin Davies – Herbert Smith Freehills; Martyn Jones – Herbert Smith Freehills; Max Kaufmann – Herbert Smith Freehills; Alan Montgomery – Herbert Smith Freehills; Veronica Roberts – Herbert Smith Freehills; Siddhartha Shukla – Herbert Smith Freehills; Isaac Zailer – Herbert Smith Freehills; Dong Chul Kim – Paul Hastings LLP; Garrett Hayes – Paul Hastings LLP; Catherine Kennedy – Paul Hastings LLP; Iksoo Kim – Paul Hastings LLP; Sam Waite – Paul Hastings LLP;

Law Firms: Herbert Smith Freehills; Paul Hastings LLP;

Clients: Bharti Global Limited; Hanwha Systems; Oneweb Global ; UK Government;

Author: Giulia Di Palma

Leave a Reply