Acibadem disposal

Abraaj Capital, a leading private equity manager investing in the rapidly growing economies of the Middle East, Turkey, Asia and Africa has announced the successful completion of its agreement to divest its entire 50% shareholding in Acibadem Saglik Yatirimlari Holding A.S. and affiliated companies (“Acibadem”) to Integrated Healthcare Holdings Sdn.Bhd (“Integrated Healthcare”) and Khazanah Nasional Bhd (“Khazanah”).

Under the terms of the agreement, Integrated Healthcare and Khazanah have acquired a combined 75% shareholding in Acibadem from Abraaj Capital and the Aydinlar family through a combination of cash payment and the exchange of newly issued Integrated Healthcare shares.

With the conclusion of this transaction, Abraaj Capital emerges as a shareholder in Integrated Healthcare which will become one of the largest private healthcare providers in the world, with a broad footprint of assets in Malaysia, Singapore, India, Turkey and an operating presence in China, Brunei, Abu Dhabi, Central and Eastern Europe.

Freshfields were international counsel to a major client of the firm, and Mr Mehmet Ali Aydinlar, a very high-profile entrepreneur and his family from Turkey on the sale. The Freshfields team was led by partner Pervez Akhtar and senior associate Rob Cant. Mr Altitar commented: “We were delighted to have been chosen to lead the team on such a signifiacnt transaction, both for our clients and for private equity in the region. This was a truly international deal that made headlines across the globe.”

Herguner were Turkish counsel to the sellers led by corporate partner Ms. Senem Ismen, she commented: “The transaction was more challenging than an average acquisition due to the two-way share acquisition, since the consideration payable to Aydinlar and Abraaj for the Acibadem HoldCo shares was in the form of both cash and newly issued IHH shares.”