Kenon Holdings Completes Sale of ZIM Shares, Realizes $2.1 Billion

Kenon ( (KEN) ) has provided an update.

Kenon Holdings Ltd. recently completed the sale of its remaining shares in ZIM Integrated Shipping Services Ltd., resulting in net proceeds of $178 million and dividends of $47 million. This sale marks the end of Kenon’s direct investment in ZIM, although the company retains potential upside through a cash settled capped call transaction covering approximately 4.2% of ZIM’s outstanding shares. Overall, Kenon has realized approximately $2.1 billion from its investment in ZIM, enhancing its cash position to approximately $890 million, which may strategically impact its future investment decisions and financial positioning.

More about Kenon

Kenon Holdings Ltd. operates in the investment industry, focusing on the management and realization of its investments in various sectors. The company has been involved with ZIM Integrated Shipping Services Ltd., a notable entity in the global shipping industry.

YTD Price Performance: 43.91%

Average Trading Volume: 9,376

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $1.59B

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