Brief: Kenon Sells Half Of Its Remaining Stake In Qoros To The Majority Shareholder For RMB 1,560 Mln

Kenon Holdings

08/01/2019 11:26

Jan 8 (Reuters) - Kenon Holdings Ltd  KEN.N :
    * KENON SELLS HALF OF ITS REMAINING STAKE IN QOROS TO THE
MAJORITY
SHAREHOLDER FOR RMB 1,560 MILLION (US$227 MILLION)
    * KENON HOLDINGS - FOLLOWING COMPLETION OF SALE, KENON WILL
HOLD A
12% INTEREST IN QOROS, THE MAJORITY SHAREHOLDER WILL HOLD 63%
AND CHERY WILL OWN 25%
    * KENON HOLDINGS - RETAINS RIGHTS UNDER THE PUT OPTION OVER
ITS
REMAINING 12% STAKE IN QOROS
    * KENON HOLDINGS - KENON WILL EVALUATE ITS OPTIONS WITH
RESPECT TO
ITS REMAINING STAKE IN QOROS
    * KENON HOLDINGS - MAY IN FUTURE SELL FURTHER PORTIONS OR
ALL OF
ITS REMAINING STAKE IN QOROS TO THE CHINA-BASED INVESTOR RELATED
TO THE BAONENG GROUP

Source text: (https://bit.ly/2RkCIbS)
Further company coverage:  KEN.N 

 ((Reuters.Briefs@thomsonreuters.com;))