Rexel, Sonepar Complete Hagemeyer Deal
Product DetailsParis-based electrical distributor Rexel completed the sale of parts of Hagemeyer to Sonepar ahead of schedule, completing the deal June 30. Rexel also sold its German business to Sonepar in exchange for all of Sonepar's activities in Sweden.
Rexel acquired Dutch distributor Hagemeyer NV in March in a $4.7 billion deal that included plans to sell Hagemeyer's North American, Asian-Pacific and selected European businesses to Sonepar within six months of the acquisition.
The completion of the deal allows the businesses to move forward with the creation of action plans to improve business performance and achieve desired synergies, Rexel CEO Jean-Charles Pauze said.
Sonepar told MDM earlier this year that it will likely keep Hagemeyer's North American ...