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UPDATE 1-Eurazeo CEO says could raise stake in Rexel

Fri Mar 28, 2008 5:08am EDT

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PARIS, March 28 (Reuters) - French investment company Eurazeo (EURA.PA) said on Friday it would be interested in raising its holding in French electrical parts distributor Rexel (RXL.PA) if one of its other shareholders wanted to sell. "If one of them (shareholders) wished to get out for their own reasons, we would of course be buyers," Eurazeo Chief Executive Patrick Sayer told a press conference.

Rexel shares gained more than 7 percent after Sayer's comments and by 0845 GMT were up 6.88 percent at 11.50 euros.

Clayton, Dubilier & Rice, Eurazeo and Merrill Lynch MER.N Global Private Equity together own 73.74 percent of Rexel according to the company's website.

Earlier this month, Rexel succeeded in its break-up bid for smaller Dutch peer Hagemeyer HAGN.AS. (Reporting by Yann Leguernigou, editing by Will Waterman)



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