Mizrahi Tefahot Bank Invests NIS 99 Million in Waste Management Company Mafaat

Mizrahi Tefahot Bank has expanded its non-banking investments by committing approximately NIS 99 million to Mafaat, a private company specializing in waste collection, transfer station operations, waste sorting, and landfill management. This investment will increase Mafaat's equity by NIS 40 million during the third quarter of 2026. The bank also secured an option to purchase additional shares within 30 days of the deal at a price between NIS 41 million and NIS 45 million.

Mafaat is currently 65% owned by Lahav Infrastructure through Lahav El Ar. Mizrahi Tefahot describes this move as a strategic step to support Mafaat's growth, strengthen its equity, and help it meet its strategic goals. A key condition of the deal requires Mafaat to go public within five years, either through an initial public offering or by becoming a publicly traded company by other means.

Additionally, Mizrahi Tefahot holds an option to sell shares back to the original sellers if Mafaat becomes a significant real corporation under concentration law or if regulatory restrictions arise. This investment marks Mizrahi Tefahot's significant expansion into real asset investments, joining Bank Leumi and Bank Hapoalim, which are established players in this sector. Discount Bank and Israel Discount Bank have so far refrained from entering this field for their own reasons.