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White & Case Advises Lenders on Turkish Hospital PPP

White & Case Advises Lenders on Turkish Hospital PPP


White & Case has advised the lenders and hedging banks, including JBIC, NEXI, SMBC, MUFG, Standard Chartered Bank, Nippon Life Insurance Company, Dai-ichi Life Insurance Company, and the Iyo Bank, on the USD 1.83 billion financing of the 2,682-bed Ikitelli Hospital public private partnership (PPP) in Istanbul, Turkey. Willkie, Farr & Gallagher advised the consortium leading the financing, construction, and operation of the Ikitelli Hospital campus, which includes Ronesans Health Investment and Sojitz.

According to White & Case, "the project is part of Turkey's EUR 12 billion hospital PPP program, which was launched in 2011 and aims to improve the country's network of healthcare facilities." According to the firm, "Ikitelli Hospital will be one the world's largest hospitals, creating 10,000 jobs and providing services to 23,600 patients daily.

The White & Case team advising on the transaction was led by Partners Victoria Westcott, Jacques Bouillon (both Paris) and Toshio Dokei (Tokyo), with support from Associates Florent Rigaud, Renaud Nething, Elaine Porter, Olivier Le Bars, Abdullahi Mohammed (all Paris), Shusuke Fukunaga and Andrew Robinson (both Tokyo), legal assistant Muriel Sani, and trainee solicitor Jacopo Giunta (both Paris).

Editor's Note: After this article was published, the Ergun Law Firm confirmed that it worked alongside White & Case in advising the lenders on the deal, and Bezen & Partners confirmed that it had advised the sponsors.

The Ergun Law Firm team consisted of Partner Cagdas Evrim Ergun and Associate Ayca Ozbek in the firm's Ankara office, and Partner Sermin Yurdacan Fencimen and Associate Handan Tuna in Istanbul.

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