July 23, 2017 / 10:16 AM / a year ago

Kenon says received offers for IC Power's business in Latin America

JERUSALEM, July 23 (Reuters) -

* Kenon Holdings said on Sunday it was considering the sale of some or all of IC Power's businesses in Latin America and the Caribbean, and that it has received non-binding offers.

* "Such a transaction, if agreed and consummated, would be consistent with Kenon's strategy to realize the value of its businesses for its shareholders, which may include monetization of its businesses," the company said.

* Kenon also said Chief Executive Yoav Doppelt will step down Sept. 1, and that the board has appointed Vice President of Business Development Barak Cohen and General Counsel Robert Rosen to serve as co-CEO's.

* IC Power is a wholly owned subsidiary of Kenon. It develops and operates power generation facilities, with assets in Israel, the Caribbean and Latin America.

* In January Kenon, which was spun off from Israel Corp in 2015, tried an initial public offering of IC Power, but withdrew the following month citing market conditions.

* Kenon's statement did not include a price tag for IC Power, which in 2016 had revenue of $1.9 billion and net income of $21 million. (Reporting by Ari Rabinovitch)

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