Kenon Holdings Ltd. (KEN) has released an update.
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Kenon Holdings Ltd. reports that its subsidiary OPC Energy Ltd. did not reach an agreement from a non-binding memorandum of understanding for a potential merger involving its affiliate Gnrgy Ltd., which specializes in EV charging solutions in Israel. Consequently, OPC did not buy the founder’s shares in Gnrgy, and now the founder has the option to purchase OPC’s shares in Gnrgy. This development is expected to lead to an impairment of around $6 million in OPC’s upcoming financial statements.
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