Rani Zim sells Office Depot to UMI

Stahlman

The deal values Workplace Depot Israel at NIS 80 million, of which Zim will obtain NIS 35 million, as the chain has NIS 45 million debt.

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Soon after intense negotiations, Rani Zim signed an agreement on Friday to sell the Workplace Depot retail chain to motor vehicle importer UMI (Common Motors Israel). The sale is at a valuation of NIS 80 million, and contains NIS 45 million personal debt owed by Business Depot.

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“Globes” very first reported previous August that Zim was putting Workplace Depot up for sale by EY, seven years right after he acquired it. The chain is made up of 41 branches close to Israel. Zim held it privately, and not through the community serious estate enterprise that bears his title. The purpose for the sale is that Zim needs to focus on enhancing and growing his commercial true estate small business.

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In the latest offer, Zim gets NIS 35 million net. He is approximated to have invested NIS 30 million in getting over Place of work Depot. He purchased 50 percent the shares in the chain in 2014, and the remainder a year later

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Posted by Globes, Israel organization news – en.globes.co.il – on May possibly 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: Eyal Izhar

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