Economy

Meitav Invests NIS 200 Million in Nofar Israel Under Binding Deal

Published

Courtroom-sketch editorial illustration of a suited finance executive surrounded by floating 200-shekel notes, market charts, and currency symbols.

Meitav invested about NIS 200 million in cash for roughly 8.7% of Nofar Israel, implying a NIS 2.3 billion post-money valuation. The binding transaction gives Meitav protections aligned with Clal Insurance's rights, while Nofar Energy retains roughly 70% of the subsidiary. Meitav may invest up to NIS 20 million more within 30 days on the same terms. Nofar said the capital will support expansion of Israeli renewable-energy projects as the group continues preparations for a Nofar Israel initial public offering next year.

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