The offer values Business office Depot Israel at NIS 80 million, of which Zim will get NIS 35 million, as the chain has NIS 45 million personal debt.


Right after intense negotiations, Rani Zim signed an settlement on Friday to provide the Workplace Depot retail chain to motor vehicle importer UMI (Universal Motors Israel). The sale is at a valuation of NIS 80 million, and includes NIS 45 million personal debt owed by Office Depot.

“Globes” initial reported past August that Zim was placing Place of work Depot up for sale via EY, seven a long time after he bought it. The chain consists of 41 branches around Israel. Zim held it privately, and not as a result of the general public serious estate organization that bears his title. The rationale for the sale is that Zim wishes to concentrate on improving and growing his business serious estate small business.

In the present offer, Zim receives NIS 35 million web. He is estimated to have invested NIS 30 million in having around Office Depot. He acquired fifty percent the shares in the chain in 2014, and the remainder a 12 months afterwards

Posted by Globes, Israel small business information – en.globes.co.il – on May well 22, 2022.

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Rani Zim credit history: Eyal Izhar