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Mardi 7 Janvier 2014

Debevoise advises Ray Investment in €360 million sale of Rexel shares

The London and Paris offices of Debevoise & Plimpton LLP have represented Ray Investment s.à.r.l. in its sale of 20 million shares in Rexel for approximately €360 million, reducing its ownership of Rexel’s share capital from 23% to approximately 16%.

The sale took place through an accelerated book-building (ABB) offering to institutional investors.

This deal is the latest in a series of ABB offerings of Rexel shares over the past two years on which Debevoise has advised Ray Investment, resulting in aggregate proceeds of approximately €2.5 billion. In August 2013, Debevoise advised on a €520 million sale of Rexel shares, preceded in February 2013 by a €640 million sale, in June 2013 by a €500 million sale and in March 2012 by a €470 million ABB.
Ray Investment’s shareholders are funds controlled by Clayton, Dubilier & Rice, Inc., Eurazeo and Caisse de Dépôt et Placement du Québec. Bank of America Merrill Lynch was also a shareholder of Ray Investment but exited in this most-recent ABB offering.

The Debevoise team was led by partner Raman Bet-Mansour and international counsel Tahar Garèche.

Debevoise & Plimpton LLP is a leading international law firm, representing a wide range of clients around the world. Founded in 1931, the firm has offices in New York, Washington, D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.

Debevoise & Plimpton LLP

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