Paris-based Rexel now owns 98.67% of Hagemeyer NV, and shares of Hagemeyer will no longer be publicly traded as of mid-April, the companies announced.
In November 2007, Rexel and Hagemeyer reached an agreement for Rexel to buy the Dutch electrical distributor for roughly US$4.5 billion. Rexel has agreed to sell Hagemeyer's North American, Asian-Pacific and select European businesses to Sonepar.
The overall transaction combines the strengths of three major players in the distribution of electrical supplies. The transaction will broaden Rexel's footprint across Europe, while significantly consolidating Sonepar's positions in North America and Asia-Pacific.