Haredim from New York purchased Office Depot • will be closed on Shabbos
A Haredi group of investors from New York acquired the network from Rami Shavit • will be closed on Shabbos and holidays • investors pledged to immediately inject 30 million shekels, and 10 million according to the need
- Yaki Adamker, B'Chadrei Charedim
- כ"ו כסלו התשע"ג
Negotiations which took place for a month between Rami Shavit, owner of Hamashbir Group 365, and a group of Haredi investors from New York - was completed last Thursday. According to the deal, it was agreed that Shavit would sell the group the shares of Office Depot in his ownership.
Consequently, the 'Office Depot' network will now be closed on Shabbos and Israeli holidays.
The transaction was approved both by Global Office Depot Network and by Mizrahi Tefahot, holding a debt of NIS 30 million in stock options. Investors have committed, by attorney Avichai Verdi, to transfer money in cash.
In accordance with the contract other investors will transfer NIS 10 million to the company if necessary.
However, suppliers of Office Depot will receive only 60% of their debt, which will be rolled out over a period of five years.
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