PPR SALE: Rexel, the electronics parts subsidiary of Pinault-Printemps-Redoute, said Tuesday that it would sell three companies specializing in the distribution of electronic security equipment to private-equity firm Electra Partners for $125.4 million, converted from euros at current exchange rates. As reported, PPR, controlled by French magnate François Pinault, has been shedding its B2B activities in favor of its higher-margin retail and luxury holdings. PPR controls 62.2 percent of Italy’s Gucci group. PPR has already shed its Guilbert office supplies division, Pinault Boix & Materiaux wood and construction supplies division and Finaref and Facet consumer credit units. It also is expected to divest its entire Rexel subsidiary.

LUCKY BREAK: Condé Nast has hired a publisher for its so-called "Lucky for Men" project. Alan Katz, currently publisher of New York, is leaving Primedia to join the startup. "It’s a smart idea at a good time," he said. His departure reinforced the feelings of New York staffers that their magazine will be sold, despite repeated denials by Primedia. "I don’t think there’s any doubt about that," said one high-level New York source.

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