JD-SW (09618) has issued an announcement regarding its voluntary public takeover offer for CECONOMY AG (CECONOMY) (XETRA: CEC).

JD-SW today announced the completion of the takeover offer, acquiring 59.8% of CECONOMY's share capital and voting rights for a total consideration of 1.335 billion euros.

With the completion of this acquisition, CECONOMY has become a subsidiary of JD-SW, and its financial results will be consolidated into the company's financial statements starting from November 12, 2026.

Together with the 25.3% stake retained by JD-SW's partner Convergenta, this acquisition brings the combined shareholding of both parties in CECONOMY to 85.2%.

The takeover offer was made through the company's wholly-owned indirect subsidiary JINGDONG HOLDING GERMANY GMBH (the offeror) at a cash price of 4.60 euros per share.

All offer conditions for completing the transaction had previously been fulfilled, including obtaining merger control approval, foreign investment approval, and EU foreign subsidies approval.

"JD-SW and CECONOMY share a common vision of building Europe's leading next-generation consumer electronics platform. We can now begin to implement our vision and bring it to fruition," said Ms. Sandy Xu, Chief Executive Officer of JD-SW.

"CECONOMY has formulated a clear and attractive strategy for the European retail market and European consumers. With its talent, strong brand recognition, and extensive online and offline capabilities, it has a solid foundation for growth and prosperity. We are also confident that our partnership will support broader innovation and competitiveness goals in Europe and help build a more dynamic European consumer retail market."

"Today marks the beginning of a new chapter for CECONOMY. Our partnership with JD-SW has officially taken effect, and we are now poised to move forward with full implementation," said Remko Rijnders, Chief Executive Officer of CECONOMY.

"CECONOMY has a solid foundation to accelerate its goal of becoming Europe's most trusted technology platform. What remains unchanged is everything that makes us strong — our mission, our iconic brands, our employees, and our commitment to customers. What has changed is that we can now translate our vision into concrete action, combining our local expertise and customer relationships with JD-SW's technology and logistics capabilities to deliver a better experience for European consumers."

CECONOMY operates more than 1,000 consumer electronics stores across 11 markets under the MediaMarkt, Saturn, and MediaWorld brands, while also running its online retail business.

The business employs more than 50,000 people and had over 53 million loyalty members in 2025, with 2.2 billion customer touchpoints throughout the year.

Its solid customer relationships and business model combining online and offline retail channels lay a strong foundation for the next phase of growth under this partnership.

As part of its strategic planning, CECONOMY will maintain independent operations in Europe with a locally independent technology architecture, and there are no plans to adjust personnel, employee agreements, or office locations.

JD-SW is committed to investing in CECONOMY's strong consumer brands and continuing their brand heritage.

CECONOMY will continue to focus on deepening its long-term customer relationships and building new ones through its omnichannel platform.