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0.122584541062802 0.122584541062802 0.190217391304348 0.190217391304348 0.201690821256039 0.204021739130435 0.205917874396136 0.205917874396136
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Kenon Holdings Reports Full Year 2019 Results and Additional Updates

Kenon Holdings Ltd. Ordinary Shares (KEN) 
Company Research Source: PR Newswire
SINGAPORE, April 30, 2020 /PRNewswire/ -- Kenon Holdings Ltd. (NYSE: KEN) (TASE: KEN) ("Kenon") announces its results for 2019 and additional updates to its businesses.Key Highlights QorosIn April 2020, Kenon completed the sale of half of its remaining interest in Qoros (i.e. 12%) to the majority shareholder in Qoros Automotive Co., Ltd. ("Qoros") and received full payment of RMB1,560 million (approximately $220 million). As a result, Kenon now holds a 12% interest in Qoros, the majority shareholder holds 63% and Chery owns 25%. In addition, in December 2019 and April 2020, Kenon received aggregate cash payments of $17 million from Chery in connection with reductions in Chery's guarantee obligations resulting from repayments under Qoros' bank loans.OPCOPC Energy Ltd.'s ("OPC") financial results for 2019:    - OPC's revenues in 2019 increased to $373 million, as compared to $363 million in 2018.    - OPC's net profit in 2019 increased to $34 million, as compared to $26 million in 2018. Show less Read more
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