JD.com has completed the acquisition of a majority stake in Ceconomy, the German group responsible for the consumer electronics chains MediaMarkt, Saturn and MediaWorld, strengthening its presence in the European specialty retail market.

The transaction, formally completed on November 12, involved the acquisition of 59,8% of the share capital and voting rights of Ceconomy for €1.335 billion, through Jingdong Holding Germany, an indirect wholly-owned subsidiary of the Chinese platform.

The public takeover bid was made at a price of €4,60 per share and completed after all regulatory conditions were met, including authorizations relating to competition, foreign investment and subsidies from third countries.

With the completion of the transaction, Ceconomy becomes a subsidiary of JD.com, which began consolidating the German group's financial results into its accounts as of November 12.

JD.com and Convergenta now represent 85,2% of the capital.

The stake acquired by JD.com joins the 25,3% held by Convergenta, a partner of the Chinese company and a long-standing shareholder of Ceconomy. Together, the two shareholders now represent 85,2% of the capital and voting rights of the German group, consolidating a new shareholder structure for one of the leading European specialized retail operators.

The acquisition was finalized after the European Commission conditionally approved the transaction on November 3rd , under the Foreign Grants Regulation.

This authorization was contingent upon the companies fully complying with the commitments presented, aimed at addressing the concerns identified during the European investigation.

The completion of the transaction thus represents the transition from a prolonged regulatory process to a new phase of implementation of the commercial and technological partnership.

Over a thousand stores in 11 European markets

Ceconomy currently operates over a thousand stores in 11 markets through the MediaMarkt, Saturn, and MediaWorld brands, complemented by a consolidated presence in e-commerce.

The group employs more than 50 people and, by 2025, had more than 53 million members in its loyalty programs.

In the same year, it recorded approximately 2,2 billion customer contacts, an indicator of the scale of the commercial relationship it maintains through physical and digital channels.

This network constitutes one of the main strategic assets of the operation, allowing JD.com to strengthen its presence among European consumers through established brands and a comprehensive commercial infrastructure.

The Chinese company intends to combine this physical presence with its technological, logistical, and warehouse management capabilities, seeking to accelerate the transformation of Ceconomy's business model.

Technology and logistics at the heart of the new strategy.

The partnership will prioritize the development of a more integrated European consumer electronics retail platform, combining digital operations with the network of physical stores.

JD.com intends to provide Ceconomy with its expertise in e-commerce, inventory management, logistics automation and distribution, areas in which it has developed significant capabilities in the Chinese market.

The goal is to improve product availability, speed up delivery processes, optimize operations, and provide a more integrated shopping experience across different channels.

Sandy Xu, CEO of JD.com, believes the partnership has the necessary conditions to create a next-generation European platform for consumer electronics. She highlights the combination of Ceconomy's brand recognition, the expertise of its employees, and its simultaneous presence in physical and digital channels.

For JD.com, the operation is also part of a broader internationalization strategy, which seeks to expand its presence outside of China through investments in technology, infrastructure, and established commercial operators.

Ceconomy maintains autonomy and brands.

Despite the change in shareholder control, Ceconomy will continue to operate as an autonomous company in Europe, maintaining an independent local technology infrastructure. According to the joint statement, no significant changes are planned to the management team, organizational structure, or brand architecture.

JD.com is also committed to preserving existing agreements with workers' representatives, collective bargaining instruments, and labor participation mechanisms.

Remko Rijnders, CEO of Ceconomy, believes that the completion of the transaction marks a new stage for the group, allowing it to accelerate the execution of its business strategy. He highlights the possibility of combining knowledge of local markets and established customer relationships with the technological and logistical capabilities of JD.com.