PPR Finalizes Deal To Sell Its Stake In Rexel

Pinault Printemps Redoute said it has finalized a deal to sell its stake in Rexel, the world’s largest electrical distributor, to a group of companies. The deal is expected to close in first-quarter 2005.

Last month, the luxury goods and retailing group said it wanted to focus on luxury goods instead of pipe and wire so it entered exclusive talks to sell its 73.45 stake in Rexel to a consortium formed by three investment groups: Clayton, Dubilier and Rice (CDR), New York; Eurazeo, a F

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