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.


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

“Globes” first claimed last August that Zim was putting Place of work Depot up for sale via EY, seven several years right after he acquired it. The chain is composed of 41 branches all over Israel. Zim held it privately, and not by the public true estate organization that bears his name. The rationale for the sale is that Zim wishes to concentrate on enhancing and increasing his business serious estate organization.

In the latest offer, Zim gets NIS 35 million internet. He is believed to have invested NIS 30 million in getting around Office environment Depot. He purchased fifty percent the shares in the chain in 2014, and the remainder a 12 months afterwards

Released by Globes, Israel company news – en.globes.co.il – on May well 22, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

.



Rani Zim credit history: Eyal Izhar
