Rexel Share Sale Raises $628M For PE Consortium

Law360, New York (March 1, 2012, 1:58 PM EST) -- An investor group that includes French investment firm Eurazeo and the private equity arm of Bank of America-Merrill Lynch has dumped a minority stake in global electrical supplier Rexel Worldwide for €472 million ($628.3 million), Eurazeo announced Thursday.

Ray Investment SARL sold the 30 million shares, which represent an 11.2 percent interest in Paris-based Rexel, to institutional shareholders through an accelerated bookbuilding, according to Eurazeo. The French firm garnered just more than €140 million ($186.6 million) from the quick sale, it said.

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