Rexel Lists On European Exchange

Rexel SA, Paris, is returning to the stock market after a two-year absence. Rexel was listed on Eurolist, a European exchange, April 5. Rexel priced 61.5 million shares at $22.3 per share, for an initial public offering take of approximately $1.38 billion.

Rexel was acquired in 2005 by Clayton, Dubilier & Rice, Eurazeo and Merrill Lynch. Owners of Rexel, Eurazeo, Clayton, Dubilier & Rice, and Merrill Lynch, reportedly will maintain control over the distributor. Rexel has made several acquisitions, including GE Supply for $725 million in 2006.