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Rexel starts trading flat after float

Thu Apr 5, 2007 5:56am EDT

Stocks

   

PARIS, April 5 (Reuters) - Shares in electrical products distributor Rexel (RXL.PA) opened flat on Thursday at its flotation price of 16.50 euros per share, as the group returned to the stock market after 17 years.

At 0904 GMT, the share was 0.3 percent easier at 16.45 euros

Rexel was listed between 1983 and 1990, when it was bought by French retail group PPR (PRTP.PA).

PPR sold the company in 2005 to a group of private equity companies consisting of Clayton, Dubilier & Rice, Eurazeo (EURA.PA), Merill Lynch Global Private Equity, Caisse des Depots et de Placements de Quebec and Citigroup Venture Capital Equity Partners LP.

((Reporting by Marcel Michelson,

Reuters Messaging: rm://marcel.michelson.reuters.com@reuters.net

Email:marcel.michelson@reuters.com

Telephone: +33 1 4949 5130)) Keywords: REXEL FLOAT/

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