OneWeb Successfully Emerges from Chapter 11 with $1 Billion Investment from Bharti and HMG Consortium

On November 20, 2020, OneWeb, the broadband satellite communications company, announced its emergence from chapter 11. A consortium led by Bharti Global Limited (“Bharti”) and Her Majesty’s Government (“HMG”) (through the UK Secretary of State for Business, Energy and Industrial Strategy) has invested $1 billion in the OneWeb business to offer broadband connectivity services, via a constellation of 650 low Earth orbit satellites. Cravath represented Bharti and the consortium in connection with the transaction.

The Cravath team included partners Paul H. Zumbro and George E. Zobitz and associates Alexander Gerten and Harold C. King on bankruptcy matters; associates Bethany A. Pfalzgraf and Jerome C. Newton on M&A matters; partner Lauren Angelilli and associate Peter W. Rogers on tax matters; of counsel Christopher J. Kelly and associate Carol S. Lin on banking and credit matters; partner Eric W. Hilfers and practice area attorney Sarah W. Colangelo on executive compensation and benefits matters; partner David J. Kappos and associates Kathryn‑Ann Stamm and Carys Webb on intellectual property matters; partner Margaret T. Segall and senior attorney Jesse M. Weiss on antitrust matters; and senior attorney Annmarie M. Terraciano on environmental matters.