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


Right after intense negotiations, Rani Zim signed an agreement on Friday to offer the Place of work Depot retail chain to auto importer UMI (Universal Motors Israel). The sale is at a valuation of NIS 80 million, and features NIS 45 million debt owed by Place of work Depot.

“Globes” initially claimed final August that Zim was placing Workplace Depot up for sale by means of EY, seven many years just after he purchased it. The chain is made up of 41 branches close to Israel. Zim held it privately, and not via the community authentic estate corporation that bears his name. The cause for the sale is that Zim needs to concentrate on enhancing and growing his industrial actual estate business enterprise.

In the present deal, Zim receives NIS 35 million net. He is approximated to have invested NIS 30 million in getting about Office Depot. He bought half the shares in the chain in 2014, and the remainder a calendar year afterwards

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

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

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Rani Zim credit history: Eyal Izhar