According to the Zhitong Finance App, JD Group-SW (09618) issued an announcement regarding a voluntary public takeover offer to CEECONOMY AG (CEECONOMY) (XETRA: CEC). Today, JD Group announced the completion of a takeover offer to acquire 59.8% of CENOMY's share capital and voting rights for a total consideration of 1,335 billion euros. With the completion of this acquisition, CECONOMY became a subsidiary of JD Group, and its financial results will be included in the company's consolidated financial statements starting November 12, 2026. Together with the 25.3% shares retained by JD Group partner Convergenta, the acquisition brought the total shareholding ratio of the two parties in CECONOMY to 85.2%. The takeover offer was made through JINGDONG HOLDING GERMANY GMBH (bidder), a wholly-owned indirect subsidiary of the company, on a cash basis of €4.60 per share. Previously, all the conditions of the offer to complete the transaction had been met, including obtaining centralized approval from the operator, foreign investment approval, and EU foreign subsidy approval.
“JD Group and CECONOMY share the vision of building Europe's leading next-generation consumer electronics platform. We can now begin implementing our vision and making it a reality,” said Ms. Xu Ran, CEO of JD Group. “CECONOMY has developed a clear and attractive strategy for the European retail market and European consumers. With its talent, strong brand awareness, and extensive online and offline capabilities, it already has a solid foundation for growth and prosperity. We are also convinced that our partnership will support Europe's broader innovation and competitiveness goals and help create a more dynamic European consumer retail market.”
“Today marks the beginning of a new chapter for CECONOMY. Our cooperation with JD Group has been officially implemented, and we are now ready to fully advance implementation,” said Remko Rijders, CEO of CEconomy. “CENOMY has a solid foundation to accelerate its goal of becoming Europe's most trusted technology platform. What has not changed is everything that makes us stronger—our mission, our iconic brands, our employees, and our commitment to our customers. What has changed is that we can now turn our vision into action, combining our local expertise and customer relationships with JD Group's technology and logistics capabilities to bring a better experience to European consumers.”
Ceconomy operates more than 1,000 consumer electronics stores in 11 markets under the MediaMarkt, Saturn, and MediaWorld brands, as well as its online retail business. The business employs more than 50,000 employees, has more than 53 million loyal members in 2025, and has reached 2.2 billion customer contacts throughout the year. Its business model, which combines strong customer relationships and online and offline retail channels, lays a solid foundation for the next phase of the partnership's growth.
As part of the strategic plan, CECONOMY will maintain independent operations in Europe, have an independent local technical structure, and have no plans to adjust personnel, employee agreements, and office locations. JD Group is committed to investing in CECONOMY's strong consumer brands and continuing its brand heritage. CECONOMY will continue to focus on deepening its long-term customer relationships and building new ones through its omnichannel platform.