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France's Rexel to sell Gexpro Services unit to LKCM Headwater

French electrical products and energy services company Rexel said on Tuesday that it had agreed to sell its Gexpro Services unit, a business with sales of around $260 million, to private investment company LKCM Headwater.

PARIS, Dec 31 (Reuters) - French electrical products and energy services company Rexel RXL.PA said on Tuesday that it had agreed to sell its Gexpro Services unit, a business with sales of around $260 million, to private investment company LKCM Headwater.

"This divestment, which follows a disposal program of 650 million euros ($729 million)in 2017 and 2018, is in line with our strategy aiming at optimising our portfolio," CEO Patrick Berard said.

($1 = 0.8922 euros)

(Reporting by Sudip Kar-Gupta; editing by Jason Neely)

((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))

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