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Rexel — M&A Activity 2010
May 21, 2010
1628_iss_2010-05-21_201bafbb-a73a-4282-af53-18348309434c.pdf
M&A Activity
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REXEL ANNOUNCES DISPOSAL OF HAAGTECHNO
Rexel signed yesterday an agreement to sell its Dutch subsidiary Haagtechno to Panasonic.
Haagtechno was part of the Group's "Agencies Consumers Electronics" (ACE) division1 ; it represented the Panasonic brand in the Netherlands and distributed, on an exclusive basis, Panasonic and related consumer electronics products in the Netherlands.
This business was non-core for Rexel, a global leader in the distribution of electrical supplies, and generated sales of c. €150 million in 2009 (out of total Group sales of €11.3 billion). The disposal follows the sale of another non-core asset, HCL Asia, in February.
The transaction is subject to anti-trust authority approval and its completion is expected on June 30, 2010.
Rexel, a global leader in the distribution of electrical supplies, serves three main end markets: industrial, commercial and residential. The Group operates in 34 countries, with a network of some 2,200 branches, and employs 28,000 people. Rexel's sales were €11.3 billion in 2009. Its majority shareholders are an investor group led by Clayton, Dubilier & Rice, Eurazeo and BAML Capital Partners.
Rexel is listed on the Eurolist market of Euronext Paris (compartment A, ticker RXL, ISIN code FR0010451203). It is integrated in the following indices: NEXT 150, SBF 120, and CAC Mid 100.
For more information, visit Rexel's web site at www.rexel.com
CONTACTS
FINANCIAL ANALYSTS / INVESTORS PRESS Marc MAILLET Laetitia OLIVIER +33 1 42 85 76 12 +33 1 42 85 59 89 [email protected] [email protected] Florence MEILHAC Brunswick: Thomas KAMM +33 1 42 85 57 61 +33 1 53 96 83 92
[email protected] [email protected]
1 The ACE division, resulting from the acquisition of Hagemeyer, is reported under the « Other Activities » segment in Rexel's financial statements.