Paris and New York – July 18, 2006 – LAWFUEL – Press Release Service – Debevoise & Plimpton LLP is advising The Rexel Group (Rexel), the world’s leading distribution network of electrical supplies, in its agreement with GE Consumer & Industrial, a unit of General Electric, to acquire GE Supply, GE’s electrical distribution business, for a total consideration of U.S. $725 million.
Rexel, the number one worldwide distribution network for electrical supplies, operates in 24 countries through a network of 1,686 branches. GE Supply is a full-line electrical distributor with U.S. $2.3 billion in 2005 annual revenues and 2,500 employees worldwide. Debevoise & Plimpton LLP is a leading international law firm, representing a wide range of clients around the world.
The team was led by partners E. Raman Bet-Mansour in Paris and Sarah A.W. Fitts in New York and included counsel Judith L. Church and associates John D.L. Rather, Dagmar Schwartz and Molly F. Stockley in New York, and associates Judith Macfarlane, Felicia A. Henderson and Rudolf Goldschmidt in Paris. Partner Lawrence K. Cagney in New York was responsible for employee benefits matters. Work on the financing was led by partner Craig A. Bowman in New York and associates Jeremy King in London and Hans J. Kriefall in Frankfurt.