JD-SW (09618.HK): Completes CECONOMY Takeover with EUR1.335bn for 59.8% Stake

NewTimeSpace News: On 12 November 2026, JD.com, Inc. (stock codes: 9618 and 89618) published an inside information announcement that it has completed its voluntary public takeover offer for CECONOMY AG, acquiring 59.8% of its share capital and voting rights for total consideration of EUR1.335 billion.

The offer was made through JINGDONG HOLDING GERMANY GMBH, a wholly-owned indirect subsidiary, at EUR4.60 per share in cash. All offer conditions for completion had been satisfied, including merger control, foreign investment and EU foreign subsidy approvals. CECONOMY has become a subsidiary of JD.com, and its financial results will be consolidated from 12 November 2026.

Together with the 25.3% retained by JD.com's partner Convergenta, the two parties hold 85.2% of CECONOMY. CECONOMY operates more than 1,000 consumer electronics stores in 11 markets under the MediaMarkt, Saturn and MediaWorld brands, alongside its online retail business, employing more than 50,000 people and counting more than 53 million loyalty members in 2025 with 2.2 billion customer contacts that year.

As part of the strategic plan, CECONOMY will continue to operate independently in Europe with its own local technology architecture, and there are no plans to change personnel, employee agreements or office locations. JD.com will invest in CECONOMY's consumer brands and continue their heritage. JD.com's chief executive officer Xu Ran said the parties will build a leading next-generation consumer electronics platform in Europe.