Mizrahi-Tefahot Bank is expanding its investment activities by signing an agreement to purchase the Mifat plant, which is part of the waste management and disposal sector. The bank will invest approximately NIS 98.8 million, acquiring 15% of Mifat’s share capital, with an option for an additional 5%, bringing the total holdings to a maximum of 20%. This investment reflects a pre-money valuation of NIS 560 million and post-money valuation of NIS 658.8 million.
The deal is expected to enhance Mifat’s equity by NIS 40 million in the upcoming quarter. Mifat, a private company focused on waste collection, sorting, and disposal, is primarily owned by Lahav L.R. One of the agreement’s stipulations is that Mifat must pursue a public listing within five years.
Mizrahi-Tefahot has increased its focus on real investments, joining other banks in this sector. The bank’s CEO, Moshe Lari, has led this strategic shift, viewing such investments as key drivers of growth, including previous investments in energy and healthcare infrastructure.
