Meitav Investment House Finalizes Full Exchange Tender Offer for Peninsula Shares

Meitav Investment House Completes Exchange Tender Offer for Peninsula Shares

Meitav Investment House, listed on the Tel Aviv Stock Exchange under the ticker MTAV, recently announced the successful conclusion of its full exchange tender offer for Peninsula Group Ltd. This acquisition marks a significant shift in ownership, as Peninsula, a prominent player in the Israeli non-bank financial sector, will now operate as a fully-owned subsidiary of Meitav.

Overview of the Exchange Tender Offer

On July 21, 2026, Meitav disclosed the results of the offering that was initiated under the Shelf Offering Report, which had been previously published on July 5, 2026. The goal of this tender offer was to invite Peninsula shareholders to tender their ordinary shares in exchange for Meitav shares. Notably, Meitav already held around 88.14% of Peninsula's total issued and outstanding shares, which included a number of treasury shares.

The exchange was set at a ratio of one share of Meitav for every 38.5 tendered Peninsula shares. As of the final acceptance date, July 20, 2026, a total of 16,122,787 shares were accepted from the offer. This represented roughly 7.21% of Peninsula's total share capital, satisfying the legal requirements for a compulsory acquisition under Israeli law.

Consequently, Meitav will be acquiring a significant number of shares—totaling over 26 million—in exchange for the issuance of approximately 698,000 new Meitav shares, all drawn from its treasury. Following the completion of this transaction, Peninsula will be delisted from the Tel Aviv Stock Exchange but will maintain its status as a reporting corporation due to its existing bond series.

Strategic Implications of the Acquisition

Ilan Raviv, the CEO of Meitav Investment House, shared insights on the strategic importance of this acquisition. By obtaining full control over Peninsula, Meitav intends to enhance its capabilities in the non-bank credit market. This move is expected to drive expansion efforts, optimize the utilization of capital, and ultimately reduce operational costs.

Peninsula Group, with its extensive experience in providing credit solutions, particularly to small and medium-sized enterprises, is poised to be a valuable asset within Meitav’s broader portfolio. This acquisition not only cemented Meitav's position in the financial market but also opens up new opportunities for the firm to innovate and tailor offerings to meet the demands of SMEs in Israel.

About Meitav Investment House

Founded in 1979, Meitav Investment House is recognized as Israel's largest investment firm, currently managing financial assets approximating NIS 464 billion for over 1.6 million customers as of May 2026. The firm is adept in areas such as provident and pension funds, mutual funds, alongside tailored portfolio management. Meitav also boasts a comprehensive retail brokerage operation and engages significantly in institutional brokerage, credit activities, and alternative asset management. This multi-faceted approach underscores Meitav's commitment to delivering advanced financial solutions, leveraging technology to enhance client experience.

For further information on their offerings and updates, stakeholders can visit the Meitav Investment House’s investor relations page here.