Nofer Energy Buys 47.5% Stake in Reindeer Power Plant for NIS 855 Million
Nofer Energy, controlled by Ofer Yanai, has finalized a deal to acquire 47.5% of the shares in the Reindeer power plant for NIS 855 million. The purchase includes 39.5% of the plant's shares from Phoenix Insurance for NIS 711 million. Additionally, Nofer Energy will acquire stakes from other partners in Reindeer, including Gideon Tadmor, founder and CEO of Navitas. The company will also buy 35% of the adjacent land spanning 60 dunams. Nofer Israel, the subsidiary executing the transaction, plans to explore building another power plant, an energy storage facility, or a data center farm on the site. Financing for the acquisition will come from Nofer's own resources, supplemented by loans or various equity instruments provided by its shareholders. Phoenix was represented by lawyers Alon Ziv and Hadas Peled from Alon Ziv & Co., while Nofer was represented by Noa Midan and Miki Shapira from Arnon Law Firm.
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