July 4, 2022

Y M L P-298

It Must Be Business

Rani Zim sells Office Depot to UMI

1 min read

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

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

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“Globes” first noted last August that Zim was placing Business office Depot up for sale by EY, 7 years immediately after he acquired it. The chain is composed of 41 branches all around Israel. Zim held it privately, and not through the public authentic estate business that bears his identify. The rationale for the sale is that Zim needs to focus on enhancing and expanding his industrial actual estate enterprise.

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In the recent deal, Zim gets NIS 35 million internet. He is believed to have invested NIS 30 million in taking about Business office Depot. He acquired fifty percent the shares in the chain in 2014, and the remainder a yr afterwards

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Printed by Globes, Israel small business news – en.globes.co.il – on May perhaps 22, 2022.

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

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Rani Zim  credit: Eyal Izhar

Rani Zim credit score: Eyal Izhar

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