Kenon Holdings Ltd. (KEN) has released an update.
Kenon Holdings Ltd. has announced an arbitration tribunal decision, mandating the Republic of Peru to pay pre- and post-award interest at 6.91% per annum on a $110.7 million award, with current interest amounting to approximately $60 million. The company has also entered into a finance agreement to cover arbitration expenses, which entitles the capital provider to a share of any proceeds from the award or settlement. Kenon estimates its net share, after costs and before taxes, to be around $75 million as of April 2024.
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