JD.com to acquire CECONOMY for EUR 4.60 per share

JD.com Inc. (NASDAQ: JD) announced a voluntary public takeover offer to acquire all outstanding shares of CECONOMY AG (XETRA: CEC) for EUR 4.60 per share in cash. CECONOMY is the parent company of European consumer electronics retailers MediaMarkt and Saturn.

The Chinese e-commerce company has secured commitments from shareholders representing 31.7% of CECONOMY shares to accept the offer. Combined with CECONOMY's largest shareholder Convergenta Invest GmbH, which will retain a 25.35% stake after selling 3.81% of its holdings, JD.com has secured 57.1% of the company ahead of the offer launch.

CECONOMY operates more than 1,000 retail stores across 11 countries through its MediaMarkt and Saturn brands, combining physical retail with e-commerce operations. The company's supervisory board and management board support the takeover offer.

"This partnership with CECONOMY will build Europe's leading next-generation consumer electronics platform," said JD.com CEO Sandy Xu. The company plans to contribute technology, omni-channel retail expertise, and logistics capabilities to strengthen CECONOMY's operations while maintaining it as a standalone European business.

CECONOMY CEO Dr. Kai-Ulrich Deissner stated that JD.com's retail, logistics and technology capabilities would help accelerate the company's growth trajectory beyond current strategic goals.

The transaction requires regulatory approvals including merger control and foreign direct investment clearances. JD.com will finance the acquisition through a combination of acquisition loans and existing cash. The offer is not subject to a minimum acceptance rate, and closing is expected in the first half of 2026.

Under the strategic partnership, CECONOMY will maintain its workforce, employee agreements and sites unchanged while developing its omni-channel consumer electronics platform across Europe.

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