Rani Zim sells Office Depot to UMI

The offer values Business Depot Israel at NIS 80 million, of which Zim will get NIS 35 million, as the chain has NIS 45 million personal debt.

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Immediately after intensive negotiations, Rani Zim signed an settlement on Friday to offer the Office Depot retail chain to vehicle importer UMI (Universal Motors Israel). The sale is at a valuation of NIS 80 million, and involves NIS 45 million personal debt owed by Place of work Depot.

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“Globes” 1st noted previous August that Zim was putting Workplace Depot up for sale by EY, seven years right after he acquired it. The chain is composed of 41 branches about Israel. Zim held it privately, and not through the general public serious estate firm that bears his title. The rationale for the sale is that Zim wishes to concentrate on boosting and growing his industrial actual estate small business.

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In the present-day deal, Zim receives NIS 35 million web. He is estimated to have invested NIS 30 million in having around Office Depot. He bought 50 percent the shares in the chain in 2014, and the remainder a year afterwards

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Revealed by Globes, Israel enterprise news – en.globes.co.il – on May well 22, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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Rani Zim credit history: Eyal Izhar

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