Rani Zim sells Office Depot to UMI

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

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Soon after intense negotiations, Rani Zim signed an agreement on Friday to provide the Place of work Depot retail chain to car or truck importer UMI (Common Motors Israel). The sale is at a valuation of NIS 80 million, and incorporates NIS 45 million personal debt owed by Business office Depot.

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“Globes” 1st noted past August that Zim was putting Business Depot up for sale by means of EY, 7 many years soon after he purchased it. The chain consists of 41 branches all around Israel. Zim held it privately, and not via the general public real estate enterprise that bears his identify. The explanation for the sale is that Zim needs to concentrate on boosting and expanding his commercial actual estate business.

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In the existing offer, Zim receives NIS 35 million net. He is estimated to have invested NIS 30 million in getting over Business office Depot. He acquired fifty percent the shares in the chain in 2014, and the remainder a calendar year later on

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Released by Globes, Israel organization information – 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 score: Eyal Izhar

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