JD.com: Issues Acquisition Proposal to German E-Commerce Company CECONOMY
Sina Tech News July 31, morning news, JD.com has announced through its wholly-owned subsidiary JINGDONG Holding Germany GmbH that it will make a voluntary public takeover bid to the shareholders of CECONOMY AG, the parent company of European consumer electronics retailers MediaMarkt and Saturn. The offer price is €4.60 per share in cash for all outstanding and circulating shares without nomination, and aims to establish a strategic investment partnership.
The announcement shows that the bidder has already signed an investment agreement with CECONOMY regarding the takeover bid and future cooperation after completion of the acquisition. Additionally, the bidder's largest shareholder, Convergenta Invest GmbH, and other relevant shareholders have signed a shareholder agreement, which will take effect upon completion of the acquisition. As a result, Convergenta will hold 25.35% of CECONOMY shares after the acquisition.
CECONOMY was established in 2017 and is headquartered in Germany. Its predecessor was the consumer electronics business segment of German retail giant Metro Group's MediaMarkt. After spinning off independently, CECONOMY quickly grew into a leading player in the European consumer electronics retail market. Currently, the company operates over 1,000 stores across 12 European countries, with its core brands MediaMarkt and Saturn occupying more than 30% of the German market share.
The announcement shows that the acquisition is expected to be completed in the first half of 2026. (Yan Yan)
Editor in charge: Jiang Yuhuan