Rani Zim sells Office Depot to UMI
The offer values Office environment Depot Israel at NIS 80 million, of which Zim will get NIS 35 million, as the chain has NIS 45 million credit card debt.


Immediately after intense negotiations, Rani Zim signed an settlement on Friday to provide the Workplace Depot retail chain to auto importer UMI (Universal Motors Israel). The sale is at a valuation of NIS 80 million, and consists of NIS 45 million personal debt owed by Business office Depot.

“Globes” initially described final August that Zim was placing Business office Depot up for sale as a result of EY, seven many years following he purchased it. The chain is made up of 41 branches about Israel. Zim held it privately, and not through the general public genuine estate corporation that bears his identify. The purpose for the sale is that Zim wishes to focus on maximizing and expanding his commercial actual estate small business.

In the latest offer, Zim gets NIS 35 million internet. He is approximated to have invested NIS 30 million in getting over Place of work Depot. He purchased half the shares in the chain in 2014, and the remainder a calendar year later

Printed by Globes, Israel organization news – en.globes.co.il – on May possibly 22, 2022.

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

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Rani Zim credit history: Eyal Izhar
