Kenon to buy 25% of Vicinity District Energy for about $450 million
Kenon agreed to pay USD 450 million for a 25% equity stake in US district heating and cooling operator Vicinity District Energy, implying USD 2.92 billion enterprise value for 100% subject to post-closing adjustments. Deal uses a Kenon-owned buyer vehicle and includes non-recourse debt commitments up to USD 1.4 billion