logo
Plus   Neg
Share
Email

Kenon: Inkia Completes Sale Of Latin American, Caribbean Businesses

Kenon Holdings Ltd. (KEN) announced that Inkia Energy Limited, a subsidiary of IC Power Ltd., has completed the sale of its Latin American and Caribbean businesses to I Squared Capital. The sale is expected to generate proceeds of approximately $1.332 billion. The net proceeds to be distributed to Kenon are expected to be $619 million. Kenon intends to use a portion of the proceeds of the transaction to repay debt of IC Power, and to repay its loan facility with Israel Corporation.

Kenon's shareholders authorized a capital reduction to enable a potential distribution of a portion of the proceeds received from the transaction, but no determination has yet been made as to whether a distribution will be made or as to the timing or amount of any such distribution.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A former Southwest Airlines employee has filed a racial discrimination lawsuit against the airline, alleging that the carrier allowed its employees to create a "whites-only" breakroom. The lawsuit was filed in the United States District Court in Houston earlier this week by Jamel Parker, a former employee of Southwest Airlines. American Airlines Inc. has joined its major rivals in raising baggage fees as the airline industry grapples with higher fuel costs and rising operating expenses. The largest U.S. airline said Thursday it is raising the price of a first and second checked bag by $5 each. The price of a first checked bag is now $30, while it is $40 for a second checked bag. The takeover battle by Comcast Corp. nd Rupert Murdoch's 21st Century Fox Inc. for British broadcaster Sky plc will be settled through an auction. The UK Takeover Panel said Thursday that an auction procedure is expected to commence on the evening of Friday, September 21, 2018 and end on the evening of September 22, 2018. The winner of the auction will be announced on Saturday.
Follow RTT