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Bank of America Corp exits Ray Investment-Reuters

Monday, 16 Dec 2013 07:00pm EST 

Rexel SA:Ray Investment, controlled by Clayton, Dubilier & Rice, Eurazeo SA, Bank of America Corp (Bank of America Merrill Lynch) and the Caisse des Depots et Consignations du Quebec, said it sold a further 7 percent stake in Rexel SA-Reuters.The move will see Bank of America Merrill Lynch exit Ray Investment and it will no longer be an indirect shareholder of Rexel.The sale of the 20 million shares was completed at 17.9 euros each indicating a deal value of 358 million euros ($492 million).Ray Investment will retain about 16.5 percent of Rexel.Bank of America Merrill Lynch's exit will see Eurazeo hold 55 percent of Ray Investment, with Clayton, Dubilier & Rice holding 35 percent, and Caisse des Depots et Consignations du Quebec the rest. 

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22 May 2015