Rani Zim sells Office Depot to UMI
The deal values Place of work Depot Israel at NIS 80 million, of which Zim will get NIS 35 million, as the chain has NIS 45 million financial debt.


Following intensive negotiations, Rani Zim signed an agreement on Friday to sell the Workplace Depot retail chain to car or truck importer UMI (Universal Motors Israel). The sale is at a valuation of NIS 80 million, and features NIS 45 million financial debt owed by Office environment Depot.

“Globes” first noted last August that Zim was putting Place of work Depot up for sale as a result of EY, 7 decades just after he acquired it. The chain is made up of 41 branches around Israel. Zim held it privately, and not as a result of the general public actual estate enterprise that bears his name. The explanation for the sale is that Zim needs to focus on improving and increasing his industrial authentic estate business enterprise.

In the present offer, Zim gets NIS 35 million net. He is estimated to have invested NIS 30 million in getting in excess of Office Depot. He acquired 50 % the shares in the chain in 2014, and the remainder a calendar year afterwards

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

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

.



Rani Zim credit history: Eyal Izhar