France's Rexel Group, a distributor of electrical supplies, has agreed to buy the GE Supply unit of General Electric ( GE) in a $725 million deal.

GE Supply, an electrical distribution business based in Shelton, Conn., had U.S. revenue of more than $2 billion in 2005. Rexel's U.S. unit had $2.5 billion in sales last year. GE Supply employs roughly 2,500 people in more than 150 locations around the world.

Rexel expects to close the transaction by early August, subject to the consent of its senior lenders.

Shares of GE slipped 6 cents to $33.39 in premarket trading Tuesday.

If you liked this article you might like

Spain to Play Netherlands for World Cup

Spain to Play Netherlands for World Cup

Wal-Mart: Analysts' Upgrades, Downgrades

Wal-Mart: Analysts' Upgrades, Downgrades

Netherlands Advances to World Cup Final

Netherlands Advances to World Cup Final

Apple: Analysts' Upgrades, Downgrades

Apple: Analysts' Upgrades, Downgrades

World Markets Mostly Lower Monday

World Markets Mostly Lower Monday