Eurazeo says cutting Rexel stake to 10.9 pct

PARIS, June 4 Tue Jun 4, 2013 3:59am EDT

PARIS, June 4 (Reuters) - French private equity firm Eurazeo said on Tuesday that its stake in electrical materials supplier Rexel would fall to 10.9 percent from 12.7 percent as a result of a broader sale of Rexel shares by holding company Ray Investment.

Eurazeo, which is a Ray Investment stakeholder along with Clayton Dubilier & Rice, Bank of America Merrill Lynch and Caisse des Depots et Consignations du Quebec, said its gain from the sale was about 85 million euros ($110.75 million).