White & Case on $1.83 Billion Turkish Hospital PPP
Global law firm White & Case LLP 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 $1.83 billion financing of the 2,682-bed Ikitelli Hospital public private partnership (PPP) in Istanbul, Turkey.
The project is part of Turkey's €12 billion hospital PPP programme, which was launched in 2011 and aims to improve the country's network of healthcare facilities. The consortium leading the financing, construction and operation of the Ikitelli Hospital campus includes Rönesans Health Investment and Sojitz.
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 which advised on the transaction was led by partners Victoria Westcott, Jacques Bouillon (both Paris) and Toshio Dokei (Tokyo), with support from associates Florent Rigaud, 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).
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