JD.com launches $5.25-per-share takeover bid for Germany's Ceconomy

57.1% of shares have already been committed.

JD.com has announced a voluntary public takeover offer to acquire German electronics retailer Ceconomy AG for $5.25 (€4.60) per share in cash.

The offer is being made through JD.com’s wholly owned subsidiary, JINGDONG Holding Germany GmbH. Ceconomy is the parent company of MediaMarkt and Saturn, two of Europe’s largest consumer electronics retail chains.

JD.com has secured 57.1% of Ceconomy shares through binding commitments, including 31.7% from various shareholders. This includes 3.81% from Convergenta Invest GmbH, Ceconomy’s largest shareholder, which will retain a 25.35% stake after the deal. JD.com and Convergenta have also signed a shareholder agreement, effective upon deal completion.

An investment agreement between JD.com and Ceconomy outlines plans to grow Ceconomy as a standalone business.

JD.com will contribute technology, logistics, and omni-channel retail expertise to support the transformation of Ceconomy into a leading European consumer electronics platform.

Ceconomy will remain independent in Europe with no changes to its workforce, employment agreements, or operations. Its management and supervisory boards fully support the offer.

The deal is subject to regulatory approvals but does not require a minimum acceptance rate. JD.com will finance the acquisition with a combination of debt and available cash.

Closing is expected in the first half of 2026.