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


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

“Globes” initially claimed past August that Zim was putting Business office Depot up for sale as a result of EY, seven yrs right after he purchased it. The chain is composed of 41 branches around Israel. Zim held it privately, and not by way of the public authentic estate business that bears his title. The reason for the sale is that Zim needs to focus on maximizing and expanding his industrial real estate organization.

In the present offer, Zim gets NIS 35 million internet. He is estimated to have invested NIS 30 million in getting about Office Depot. He acquired 50 percent the shares in the chain in 2014, and the remainder a 12 months afterwards

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 rating: Eyal Izhar