SINGAPORE, March 30, 2018 /PRNewswire/ --
Kenon Holdings Ltd. (NYSE: KEN)
(TASE: KEN) ("Kenon") announces updates in respect of
its holding of OPC Energy ("OPC"), in which Kenon holds a
76% interest.
In August 2017, the Israel
Electricity Authority (the "EA") received a letter from the
Israel Concentration Committee stating that it believed that, for
reasons of broad economy concentration (i.e. taking into account
businesses owned by related entities of Kenon's controlling
shareholder), OPC should not be granted a license for the
construction of the Tzomet facility.
In March 2018, OPC completed the
acquisition of 95% of the shares of Tzomet Energy, although Tzomet
still requires (among other requirements) a license from the
EA.
Kenon is considering various options which could address the
letter from the Israel Concentration Committee, but no sale, in
full or in part, of OPC is being considered.
This press release corrects an inaccurate press release that was
incorrectly issued earlier today by PR Newswire.
Forward Looking Statements
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements include statements about Kenon's interest in
OPC and OPC's development project Tzomet Energy, including
statements with respect to Kenon's consideration of its options
with respect to its interest in OPC and Kenon's intention with
respect to its interest in OPC, and are based on Kenon's
management's current expectations or beliefs, and are subject to
uncertainty and changes in circumstances. These forward-looking
statements are subject to a number of risks and uncertainties,
which could cause the actual results to differ materially from
those indicated in Kenon's forward-looking statements. Such risks
include the risk that the EA license is not granted, that the
Tzomet project is not completed, that Kenon changes its intention
with respect to its interest in OPC, changes in circumstances and
other risks and factors, including those set forth under the
heading "Risk Factors" in Kenon's Annual Report on Form 20-F, filed
with the U.S. Securities and Exchange Commission.
Except as required by law, Kenon undertakes no obligation to update
these forward-looking statements, whether as a result of new
information, future events, or otherwise.
Contact Info
Kenon Holdings Ltd.
Jonathan Fisch
Director, Investor Relations
Jonathanf@kenon-holdings.com
Tel: +1-917-891-9855
SOURCE Kenon Holdings Ltd.