Kenon Holdings Ltd. (KEN) Form 6-K — Sep 30, 2026
Kenon Holdings has agreed to acquire a 25% equity interest in Vicinity District Energy, a leading U.S. district heating and cooling utility, for cash consideration of approximately $450 million as part of a transaction valuing the business at $2.92 billion enterprise value. The buyer is jointly owned by Kenon and funds managed by Harrison Street Asset Management, acquiring from an entity related to Antin Infrastructure Partners, with up to $1.4 billion of non-recourse debt committed by a lender consortium. Vicinity is the sole district heating/cooling provider in 12 major U.S.
Key figures
- Deal Value Usd
- 2920000000
- Hsam aum usd
- 110000000000
- Vicinity cities
- 12
- Expected closing
- Q2 2027
- Vicinity buildings
- approximately 1,000
- Vicinity customers
- over 700
- Vicinity pipe miles
- over 140
- Vicinity square feet
- approximately 250 million
- Kenon ownership percent
- 25
- Kenon cash commitment usd
- 450000000
- Kenon guarantee limit usd
- 40200000
- Vicinity 2025 revenue usd
- 611000000
- Debt financing committed usd
- 1400000000
- Weighted avg contract tenor years
- 15
- Expected run rate adjusted ebitda usd
- 140000000
AI analysis
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