ING provides trade finance facility to Acibadem Healthcare Group
We assisted ING with its provision of a loan to Acibadem, one of Turkey’s leading healthcare groups, for the purchase of healthcare equipment from a German manufacturer.
Remarking on the matter, partner Mushin Keskin commented that “The healthcare system in Turkey has gone through a series of crucial reforms in recent years. The EU accession and harmonization process has also provided additional momentum for the implementation of changes in the healthcare system. In an effort to modernize the provision of healthcare services, the service providers, such as Acıbadem, which is operating one of the largest high-quality hospital chains in the country, are heavily investing in equipment, technology and human resources. We are happy to be part of the financing for these investments which will, of course, take the quality of Turkish healthcare services to another level”.
A cross-border team of lawyers from Esin Attorney Partnership, a member firm of Baker & McKenzie, and Baker & McKenzie’s Frankfurt office advised ING, a branch of ING-DIBA AG, on a EUR36.1 million Euler Hermes-covered term loan facility to Acibadem Saglik Hizmetleri ve Ticaret A.S. (Acibadem). The team was led by Banking & Finance partners Muhsin Keskin (Istanbul) and Oliver Socher (Frankfurt), with strong support from associates Berkay Ozludil (Istanbul) and Silke Fritz (Frankfurt). This is the 17th transaction on which the Istanbul office has advised ING in the last three years.