JD.com completes $1.5b takeover of Germany's Ceconomy in European expansion push
Detailed summary
Chinese e-commerce giant JD.com said on Thursday it had completed a 1.34 billion euro ($1.5 billion) acquisition of a controlling stake in German electronics retailer Ceconomy,…
Chinese e-commerce giant JD.com said on Thursday it had completed a 1.34 billion euro ($1.5 billion) acquisition of a controlling stake in German electronics retailer Ceconomy, gaining access to more than 1,000 stores across Europe.
The deal marks a major step in JD's push to establish a stronger foothold in Europe's retail market, combining its logistics and technology capabilities with Ceconomy's established consumer electronics brands, including MediaMarkt, Saturn and MediaWorld.
JD said it had acquired 59.8 percent of Ceconomy's share capital and voting rights through a voluntary public takeover offer priced at 4.60 euros per share.
Together with the 25.3 percent stake retained by its partner Convergenta, the two investors now hold a combined 85.2 percent of the German retailer, the company said.
Ceconomy became a subsidiary of JD following the completion of the transaction, with its financial results consolidated into the Chinese company's accounts from Nov 12.
The acquisition gives JD a substantial physical retail presence in Europe. Ceconomy operates more than 1,000 consumer electronics stores across 11 European markets and employs more than 50,000 people.
The German retailer recorded 2.2 billion customer contacts and had more than 53 million loyalty program members in 2025, providing JD with an established customer base as it seeks to expand beyond China's intensely competitive domestic market.
Under the agreement, Ceconomy will continue operating as a standalone business in Europe, retaining its local technology infrastructure. JD.com said no changes were planned to its workforce, employee agreements or business locations.
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