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LONDON--Rexel SA's (RXL.FR) private-equity shareholders Thursday said they completed a 40 million share placement in the company at 16 euros ($21.5) per share.

Ray Investment--a vehicle controlled by funds of Clayton, Dubilier & Rice, Inc., Eurazeo (RF.FR), Bank of America Merrill Lynch (BAC) and Caisse de Depot et Placement du Quebec--now holds 43.3% of Rexel's shares, down from around 58%.

The vehicle said it intends to remain an active and committed shareholder in the French electrical supplies company. The placing was managed by Deutsche Bank AG and UBS AG. It was launched late Wednesday, after Rexel's shares closed in Paris at EUR16.43.

The stock at 0945 GMT was down 1.31% at EUR16.22.

Write to Margot Patrick at margot.patrick@dowjones.com

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