Kenon to buy 25% of equity interest in Vicinity District Energy (KEN:NYSE)

Kenon Holdings (KEN) will buy 25% of Vicinity District Energy, a U.S. heating and cooling firm, for $450M. The deal values Vicinity at $2.92B and is expected to close in Q2 2027. Kenon will use cash on hand. Vicinity serves 700+ customers in 12 cities, with 2025 revenue of $611M. KEN shares rose 1.67% to $65.17 on Tuesday.

Kenon Holdings (NYSE: KEN) will acquire a 25% stake in Vicinity District Energy, a U.S. district heating/cooling utility, for $450M. Vicinity had 2025 revenues of $611M and expects annualized EBITDA of over $140M. The deal, valued at $2.92B, is set to close in Q2 2027, pending regulatory approvals.

Kenon Holdings reported Q2 2026 results, including a $93M payment from Peru. OPC, a subsidiary, saw net profit rise to $15M, up from $1M in Q2 2025, with revenue increasing by $183M. OPC issued $202M in bonds and progressed on projects like the Hadera expansion.

Kenon Holdings (NYSE: KEN) reported Q1 2026 results, noting it holds about a 46% interest in OPC Energy. OPC’s Q1 2026 net profit fell to $14m from $25m, while Adjusted EBITDA (incl. proportionate associated-company share) rose to $124m from $113m. Kenon also said it paid a ~$200m cash dividend in April and entered a collar on ~2% of OPC shares in May.

Kendrick Resources PLC (LON:KEN) hit a new 52-week high in Wednesday trading, rising to GBX 9.70 and last trading at GBX 8.65 versus a prior close of GBX 8.30. Volume was about 21.999 million shares. The company reported quarterly EPS of GBX (0.91) on April 29.

Accenture is considering selling its China operations, valued at up to $1.5 billion, according to the Financial Times. The company has hired JPMorgan to review the business, which includes Taiwan, Hong Kong, and mainland China. Accenture may retain a minority stake and has forecast 2027 revenue growth of 3% to 6%.