Chinese online retail giant JD.com is reportedly making a meaningful offer to acquire Ceconomy, the Dรผsseldorf-based holding company that owns the prominent electronics retailers MediaMarkt and Saturn. This potential takeover,valued at approximately EUR 2.2 billion, would see JD.com assume control of these well-known European brands and also acquire shares in the French company Fnac Darty.
Ceconomy confirmed reports of the voluntary public takeover offer on Wednesday. JD.com is proposing to pay EUR 4.60 in cash for each regular share of Ceconomy. This move signifies a major expansion for JD.com into the European market.
Key shareholders have indicated their willingness to support the deal.The Kellerhals family, Ceconomy’s largest single shareholder with nearly 30 percent of the company, has agreed to sell 3.81 percent of their holdings. They intend to retain a stake of around 25.35 percent, signaling continued involvement. Additionally, shareholders haniel, Beisheim, BC Equities, and Freenet, who collectively hold approximately 27.9 percent of Ceconomy’s shares,have stated their intention to sell their stakes to JD.com.
JD.com’s existing stake of almost 32 percent in Ceconomy positions them as a substantial player in the ongoing acquisition process.The Chinese tech giant’s interest in Ceconomy has been a subject of recurring speculation in the market.
Strategic Implications
A successful takeover would provide JD.com with access to one of Europe’s largest online platforms for electronic goods.