Jingdong Announces Acquisition of German Retailer Ceconomy for €2.23 Billion
Ceconomy
China Tech News, Beijing Time, July 31, Jingdong announced on Wednesday that it will launch a voluntary public tender offer for all outstanding shares of German e-commerce company Ceconomy through its wholly-owned subsidiary.
Jingdong stated that it has proposed to acquire Ceconomy at a cash price of €4.60 per share, valuing the company at €22.3 billion (approximately $26.3 billion).
Upon completion of the transaction, the largest shareholder group's stake in Ceconomy will decrease from 29% to 25%.
Jingdong CEO Xu Ran said that the company hopes to leverage its technical capabilities to accelerate Ceconomy's current transformation process and drive its development in Europe. "Ceconomy has a leading position in the market, stable customer relationships, and growth prospects are impressive. We are committed to investing in its talent and unique corporate culture to take it to the next level."
Ceconomy CEO Kai-Ulrich Deissner said in an interview with Reuters that he expects Jingdong's acquisition transaction to be completed by the first half of 2026.