Israel Corporation $1 billion spin-off of Kenon

30/3/2015

Divestment

Value:

$ 1 billion

Status:

Completed

Date:

30/3/2015

Overview:

Israel Corporation has spun-off Kenon Holdings.
Kenon Holdings holds stakes in IC Power, Qoros Automotive, Tower Semi and ZIM.
Israel Corporation is one of Israel's largest holdings companies.
Israel Corporation shareholders will receive seven Kenon shares for each Israel Corporation share held.
Kenon will be daul listed on the TASE and NYSE.

Sam Duke - Editor

Jurisdictions:

United States
Singapore
United Kingdom
Israel

Deal type:

Divestment

Practice area:

M&A

Industry sectors:

Energy
Automotive

Firms:

Allen & Gledhill

Party: Kenon Holdings (Spin off)

Party: Israel Corporation (Seller)

Skadden Arps Slate Meagher & Flom

Party: Israel Corporation (Seller)

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