December 20, 2017 / 7:26 AM / 3 months ago

BRIEF-Rexel sells southeast Asia operations to private equity firm American Industrial Acquisition Corporation

Dec 20 (Reuters) - Rexel:

* Rexel announces sale of its operations in South East Asia to American Industrial Acquisition Corporation Group (AIAC), a private equity firm focusing on investment in the industrial sector.

* Transaction includes the following seven South-East Asian countries in which Rexel was present: Thailand, Indonesia, Singapore, Vietnam, the Philippines, Macau, and Malaysia

* Deal should lead to reduction of c. 800 million euros of sales

* Deal should have positive contribution of c. 25bps to the Group’s consolidated adjusted EBITA margin

* Transaction should result in an estimated pre-tax loss of about 60 million euros but also improve Rexel’s leverage ratio

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