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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