Yahoo Finance Press release
Press release
As part of the judicial investigation underway since 2018 relating to the so-called exemptions ("dérogations") mechanism concerning several distributors and several suppliers of electrical equipment, a Rexel Group entity has been placed under formal investigation and required to set aside a bank guarantee of 20 million euros and a cash guarantee of 48 million euros to be paid by January 15, 2023. This decision is a step in the procedure which in no way prejudges Rexel's guilt. Rexel continues to vigorously contest the basis and validity of this procedure and intends to exercise the appropriate means of recourse to assert its rights.
Rexel would like to point out that the dérogation mechanism, which is transparent and known to all market players, is standard practice in the world of professional distribution of electrical equipment. This mechanism is a purchase price reduction allowing Rexel to then propose to its customers the most competitive offer, without calling into question its freedom to determine its resale prices.
Rexel constantly strives to strictly comply with applicable laws and regulations, and continues to strengthen and update its ethics and compliance system in France and in all the countries in which the Group is present.
CONTACTS
FINANCIAL ANALYSTS / INVESTORS
Ludovic DEBAILLEUX | +33 1 42 85 76 12 |
PRESS
Brunswick: Thomas KAMM | +33 1 53 96 83 92 |
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