The 2020 Mid-Year Economic Update_long

Rexel, Hagemeyer Reach Agreement for Sale

Rexel and Hagemeyer have reached an agreement on Rexel's all-cash offer of & euro; 4.85 for Hagemeyer's assets, valuing the company at & euro; 3.1 billion (US$4.5 billion).
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The offer was approved by the boards of Rexel, Sonepar and Hagemeyer.
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Rexel has secured committed debt financing.
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As previously announced, Rexel has agreed to sell Hagemeyer's North American, Asian-Pacific and selected European businesses to Sonepar after completion of the sale.
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The overall transaction will combine 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.
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Rexel and Hagemeyer have reached an agreement on Rexel’s all-cash offer of & euro; 4.85 for Hagemeyer’s assets, valuing the company at & euro; 3.1 billion (US$4.5 billion).
&nbsp ;
The offer was approved by the boards of Rexel, Sonepar and Hagemeyer.
&nbsp ;
Rexel has secured committed debt financing.
&nbsp ;
As previously announced, Rexel has agreed to sell Hagemeyer’s North American, Asian-Pacific and selected European businesses to Sonepar after completion of the sale.
&nbsp ;
The overall transaction will combine 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.
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Rudi De Becker, chairman of Hagemeyer’s Management Board, said: This agreement safeguards the interests of our people and makes strategic sense both from an industrial and geographic perspective.”
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Marie-Christine Coisne, Sonepar CEO, said: “We look forward to the completion of the offer that will allow us to expand our worldwide footprint in North America and Asia Pacific as well as improve our position in selected European countries.”
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Following the transaction, Europe will represent 57% of Rexel’s total revenues.

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