Meitav Signs NIS 200 Million Nofar Israel Investment MOU

Meitav Investment House signed a nonbinding memorandum to invest NIS 200 million in Nofar Israel, the domestic subsidiary of renewable-energy developer Nofar Energy. The planned investment would give Meitav an 8.7% holding and values Nofar Israel at NIS 2.1 billion before the investment and about NIS 2.3 billion afterward. The new capital is intended to help finance Nofar Israel's renewable-energy and battery-storage project pipeline. Completion remains subject to due diligence, a binding agreement and required approvals, while Nofar Energy would retain control of the subsidiary.