01st December 2017

MERSIN Integrated Health Campus PPP Acquisition

IPM LLP in partnership with IPM Korea has completed its second investment in Turkey’s healthcare PPP market in cooperation with KDB Infrastructure Investments Asset Management Co. Ltd (“KIAMCO”), acquiring a stake in the Mersin Integrated Health Campus PPP (the “Project”). The transaction involved the acquisition of shares and the entire outstanding balance of the shareholder loan in the Project’s holding company, for a total consideration of c.EUR47m.

The Project was the first of Turkey’s EUR12bn hospital PPP programme to reach financial close in December 2014, and is comprised of a 1,253 bed, 374,000 square-meter hospital complex in south Turkey developed under a 28-year contract with Turkey’s Ministry of Health. DIA Holding developed the Project, which has been in operations since January 2017, with senior debt financing provided by a club of domestic and international banks, including Denizbank, Yapi Kredi and UniCredit.

This acquisition represents the continuation of the successful cooperation between IPM, KIAMCO and their Korean investors for emerging market infrastructure investments.

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