Breaking News

The Ticker: Kenon agrees to sell the Latin American appetite operations for $1.2 billion

Kenon agrees to sell a Latin American appetite operations for $1.2 billion

Kenon Holdings, a Israeli investment organisation tranquil by Idan Ofer, pronounced on Sunday it has concluded to sell IC Power’s Latin American and Caribbean businesses to infrastructure investment manager we Squared Capital for about $1.2 billion. “The sale is partial of Kenon’s plan to yield a shareholders with approach entrance to a businesses, including by monetization of a businesses,” a association said. The deal, that is approaching to tighten in a subsequent several months, is usually for operations owned by IC Power’s auxiliary Inkia Energy in Latin America and a Caribbean, and does not embody a OPC Energy operations in Israel.As partial of a transaction, we Squared Capital will assume Inkia’s $450 million debt from a bond emanate finished this month, Kenon said. Shareholders will be asked to approve a collateral rebate that will capacitate Kenon to discharge a apportionment of a transaction deduction to shareholders. Kenon shares finished adult 8.5% during 70.70 shekels ($20.15). (Reuters)

Court expert: Best fortitude for Africa Israel debt is to sell association resources piecemeal

An consultant allocated by a justice overseeing a debt bailout of Africa Israel Investments pronounced on Sunday that bondholders would be improved off offered a association in tools than usurpation a bid from U.S.-Israeli businessman Naty Saidoff. Emanuel Avner, an accountant allocated by a Tel Aviv District Court, pronounced creditors would redeem about 76.5% of their debt, or 2.286 billion shekels ($650 million) in a breakup, contra 71.7%, or 2.143 billion shekels, underneath Saidoff’s offer, that includes arising new debt. “When a holding association is announced ruined twice within only a few years, any offer that again includes holds as a vital member should means bondholders to give critical care to an choice that doesn’t engage a new debt arrangement,” Avner said. Although an offer from Moti Ben-Moshe that bondholders have already deserted would have repaid only 70.6% of Africa Israel’s debt, Avner pronounced he elite it over Saidoff’s since of a bigger cash-payback component. (Shelly Appelberg)

Energy shares convene on news that natural-gas exports to Egypt still possible

We’ve got some-more newsletters we consider you’ll find interesting.

Click here

Please try again later.

This email residence has already purebred for this newsletter.


Israeli appetite shares rallied Sunday on a news that Egypt has not deserted a thought of importing Israeli healthy gas.  Citing an unknown source, Bloomberg News reported that Egyptian Petroleum Minister Tarek el-Molla told Energy Minister Yuval Steinitz that Cairo was still deliberation permitting imports of Israeli gas. The news came after Molla on dual apart occasions this month voiced doubt about appetite deals with Israel, observant once that they hinged on excusable fortitude of an settlement statute awarding Israel $2 billion. Spokesmen for a dual ministries declined to comment. On a Tel Aviv Stock Exchange, a Oil and Gas index jumped 5% to 935.55 points, led by a 7.7% benefit for Delek Drilling to 9.95 shekels ($2.84) and a 6% benefit for Ratio to 2.37. The dual companies are a Israeli partners in a Leviathan gas field, that stands to benefit a many from any exports to Egypt. (TheMarker)

Protalix readying to lay off one-fifth of a workforce

Protalix Biotherapeutics is reportedly removing prepared to lay off some-more than one-fifth of a staff as a biotechnology association focuses a resources on completing growth of a PRX-102 drug for Fabry disease. Some 50 out of 248 employees during a Haifa-based association have been called for predismissal hearings, as compulsory by law. Protalix is operative to finish proviso 3 clinical trials of PRX-102 after signing a chartering and partnership agreement with Italy’s Chiesi Farmaceutici to marketplace a drug worldwide outward a United States. Meanwhile Protalix has built adult sufficient inventories of a Gaucher illness drug to accommodate a commitments to a supervision of Brazil, with that it has a $280 million contract, and a drug hulk Pfizer, that sells a drug elsewhere in a world. In addition, Israeli supervision assist forsaken by some-more than half this year to only $3.1 million, forcing Protalix to cut costs. Protalix shares finished down 1.6% to 2.54 shekels (72 cents). (Yoram Gabison)

Tel Aviv shares allege as appetite bonds rally, retailers slump

Tel Aviv shares finished aloft in comparatively sprightly trade on Sunday as appetite shares got a lift from news that Israeli gas exports to Egypt were still in a offing. The TA-35 and TA-125 indexes both modernized about 0.5% to tighten during 1,440.08 and 1,320.25 points, respectively, as 808 million shekels ($230 million) in shares altered hands. Retail shares took a violence after a financial daily Calcalist reported that Amazon is in talks to set adult an Israeli logistics core (see story on this page), a pierce that would poise a outrageous rival hazard to malls and internal chains. Teva Pharmaceuticals finished down 2.5% to 48.65 after rallying Thursday on reports of appearing pursuit cuts.  Elbit Systems posted a 1.9% benefit to finish during 514.30, imprinting a fourth true daily gain, while Compugen jumped 7.5% to 9.65 and Frutarom combined 1% to 298. Volume personality Bank Leumi strew 1.8% to finish during 19.15. (Omri Zerachovitz)

Article source:


Related posts

Netanyahu in Bulgaria: We mount together in a onslaught opposite terrorism

Times of News

American fighter pilots in Israel for joint drill

Times of News

Egypt confidence army kill 11 suspected militants in raid

Times of News