Meitav Invests NIS 200 Million in Nofar Israel Under Binding Deal

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.