George Kako Group of Companies’s Project Finance For The International SAHL NINWA Hospital In Mosul

Avocom – Studi Professionisti Consociati / Avocom Law Firm Llp, in association with Arkios Legal, advised George Kako Group of Companies, based in Ninawa – Bartilla in Iraq, in the negotiations for the realization of a project finance and obtaining a loan from the investment company Citic Holding IF Group which operated with a pool of banks including The Hongkong and Shanghai Banking Corporation Limited, a wholly owned subsidiary of HSBC.

The deal concerns the construction, east of Mosul – in the Bartilla District, of the International SAHL NINWA Hospital, a new private hospital in the Ninawa Governorate to provide all the various types of health services to the people of the Ninawa Governorate and neighboring Governorates with affordable, high- quality costs aligned with the income levels of governorate residents.

The gross surface of the hospital building is 7,840 square meters divided into structures for treatment and medical- diagnostic services; the planned capacity of the hospital can reach 300 places. The hospital provides key therapeutic medical services which include emergency cases, small, medium and large scale surgery, family medicine clinic and diagnostic services (radiography, laboratory and pharmacy), patient accommodation services along with other medical services.

The total value of the outstanding transaction with George Kako Group of Companies is approximately $ 25 million.

This project, carried out in collaboration with the Coral International Commercial Agency of Abu Dhabi (which acted as Co-Advisor), is part of the country’s reconstruction plan and aims to provide a health service that is finally adequate to the citizen, making up for often deficient quality standards. and reducing the excessively high average mortality due to poor health care, related to the terrorist occupation of the city by ISIS until the end of 2019.

Avocom – Studi Professionisti Consociati / Avocom Law Firm Llp, in association with Arkios Legal, provided assistance with a team led by managing partner Francesco del Bene (Picture), assisted by partners Piergiorgio Casati (Milan office) and Ian Hughes (London office).

Involved fees earner: Francesco del Bene – Arkios Legal; Piergiorgio Casati – Avocom; Ian Hughes – Avocom;

Law Firms: Arkios Legal; Avocom;

Clients: George Kako Group of Companies;