Rexel makes Hagemeyer bid official

Industrial Distribution staff -- Industrial Distribution, 12/21/2007 6:11:00 AM

Rexel made its $4.6 billion bid for Hagemeyer official, saying it will sell some of the Dutch electrical distributor’s assets to French peer Sonepar.

If the deal is consummated, the Dutch electrical distributor’s businesses in the United States, Canada, Mexico, Australia, Switzerland, Austria, Sweden, China, Malaysia, Thailand, Singapore and six branches in Germany will be sold to Sonepar.

The deal also includes a provision that would see the two French competitors swap their German and Swedish operations to satisfy European anti-trust regulations.

Rexel said the deal would boost its 2006 sales of $15.4 billion by roughly $4.6 billion and see revenues from Europe rise from 49 percent to 57 percent of the total. North American sales would drop from 49 percent to 37 percent.

For Sonepar, the deal would add $4.3 billion in sales, including $1.7 billion in Europe, to the $13.7 billion it posted last year.

Talkback

We would love your feedback!

Post a comment

» VIEW ALL TALKBACK THREADS

Related Content

• Topics
• Author

Related Content

• Rexel’s 1Q sales rise 1 percent
  
• Rexel CEO: Hagemeyer deal will effectively double our size
  
• Rexel wraps up Hagemeyer bid
  
• Rexel CEO: Plenty of cash for M&A after Hagemeyer deal
  
• Sonepar ups loan for Hagemeyer buyout
  

By This Author

• Labor Dept.: Jobs cut for sixth straight month
• Lewis-Goetz acquires G&H Pumps and Compressors
• Former HD employee pleads guilty
• Rexel completes sale of Hagemeyer units to Sonepar
• Avnet acquires Source Electronics
• » MORE

Sponsored Links