Kenon says received offers for IC Power's business in Latin America
23/07/2017 11:15
JERUSALEM, July 23 (Reuters) -
* Kenon Holdings KEN.N said on Sunday it was considering
the sale of some or all of IC Power's businesses in Latin
America and the Caribbean, and that it has received non-binding
offers.
* "Such a transaction, if agreed and consummated, would be
consistent with Kenon's strategy to realize the value of its
businesses for its shareholders, which may include monetization
of its businesses," the company said.
* Kenon also said Chief Executive Yoav Doppelt will step
down Sept. 1, and that the board has appointed Vice President of
Business Development Barak Cohen and General Counsel Robert
Rosen to serve as co-CEO's.
* IC Power is a wholly owned subsidiary of Kenon. It
develops and operates power generation facilities, with assets
in Israel, the Caribbean and Latin America.
* In January Kenon, which was spun off from Israel Corp
ILCO.TA in 2015, tried an initial public offering of IC Power,
but withdrew the following month citing market conditions.
* Kenon's statement did not include a price tag for IC
Power, which in 2016 had revenue of $1.9 billion and net income
of $21 million.
(Reporting by Ari Rabinovitch)
((ari.rabinovitch@thomsonreuters.com; +972-2-632-2202; Reuters
Messaging: ari.rabinovitch@thomsonreuters.com@reuters.net))
Keywords: KENON HOLDINGS ICPOWER/