Ray Investment Agrees to Sell $727 Million Stake in Rexel - Modern Distribution Management

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Ray Investment Agrees to Sell $727 Million Stake in Rexel

Ray Investment will retain 24 percent of Rexel after the sale.
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Ray Investment SARL has announced plans to sell a stake in global electrical equipment distributor Rexel worth about €546 million (US$727 million), Bloomberg News reported.

Deutsche Bank AG and UBS AG are managing the sale of approximately 10 percent of the electrical equipment distributor, based in Paris, France. Shares of Rexel closed at €18.95 in Paris August 5. Ray Investment will hold 24 percent of Rexel after the sale.

Rexel Holdings USA / Rexel Canada ranked No. 3 on MDM’s 2013 list of top electrical distributors.

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