Kenon to Pay $450M for 25% Stake in US District Energy Firm Vicinity
Singapore – – September 30, 2026 -- Kenon Holdings Ltd. has agreed to acquire a 25% equity interest in Vicinity District Energy for approximately $450 million, as part of a broader transaction valuing the company at $2.92 billion.
Antin Infrastructure Partners exits majority stake in $2.92 billion deal
The current owner, an entity related to Antin Infrastructure Partners, is selling a majority interest in Vicinity to a buyer jointly owned by Kenon and funds managed by Harrison Street Asset Management (HSAM). Under the Equity Purchase Agreement, the buyer will acquire between approximately 60% and 100% of Vicinity Holding Company. A consortium of lenders has committed non-recourse debt financing of up to $1.4 billion to fund part of the purchase price and future growth capital expenditures.