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


After intensive negotiations, Rani Zim signed an settlement on Friday to offer the Business office Depot retail chain to car or truck importer UMI (Universal Motors Israel). The sale is at a valuation of NIS 80 million, and consists of NIS 45 million personal debt owed by Business Depot.

“Globes” 1st reported final August that Zim was putting Business office Depot up for sale through EY, seven yrs after he purchased it. The chain consists of 41 branches all-around Israel. Zim held it privately, and not by means of the general public serious estate enterprise that bears his name. The cause for the sale is that Zim wishes to concentrate on improving and expanding his commercial genuine estate business enterprise.

In the latest offer, Zim gets NIS 35 million net. He is approximated to have invested NIS 30 million in taking more than Business Depot. He purchased fifty percent the shares in the chain in 2014, and the remainder a year afterwards

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

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Rani Zim credit history: Eyal Izhar