Dow Jones Newswires: Rexel probe, Schneider Electrical and Legrand indicted after French pricing probe

Dow Jones Newswires: Rexel probe, Schneider Electrical and Legrand indicted after French pricing probe

Rexel SA mentioned Friday that one among its enterprise models has been positioned underneath formal investigation for an alleged breach of French competitors guidelines governing costs.

The corporate
RXL,
-2.55%

mentioned it has been required to put aside a 20 million euro ($19.6 million) financial institution assure and a money assure of EUR48 million to be paid by Jan. 15, 2023, the corporate mentioned.

It comes after Schneider Electrical SE
SU,
-2.58%

and Legrand SA
LR,
-2.18%

mentioned Thursday that they’ve been indicted for an allegeded worth settlement mechanism in violation of competitors guidelines.

The indictments observe an investigation into the businesses’ practices carried out in 2018 by a choose and France’s competitors regulator. In July, the three corporations obtained a discover from the French competitors watchdog alleging a possible breach of competitors guidelines.

“The investigating choose determined to indict Schneider Electrical and to require the corporate to offer a financial institution assure of EUR20 million and a money assure of EUR80 million to be paid in January 2023,” Schneider Electrical mentioned.

In a separate assertion, Legrand mentioned one among its models was indicted and ordered to offer EUR80.5 million in safety.

The three corporations mentioned that the indictments aren’t proof of wrongdoing, and that they intend to defend themselves.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

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