JD.com Gains Majority Ownership in Ceconomy After Extended Takeover Offer
By Adria Calatayud
China's JD.com said it gained majority ownership of German electronics retailer Ceconomy at the end of an additional acceptance period for its 2.23 billion-euro ($2.59 billion) takeover offer.
The Beijing-based e-commerce company said Tuesday that it secured about 59.8% of the share capital and voting rights of Ceconomy after the additional offer period, up from 45.5% at the end of the initial acceptance period.
This, combined with a stake retained by JD.com's future partner Convergenta, will bring their combined shareholding to 85.2%, up from 70.9% after the initial offer period. Convergenta is the holding company of the Kellerhals family, founders of MediaMarktSaturn, and was the biggest shareholder in Ceconomy before JD.com's offer.
JD.com in late July agreed to launch a takeover offer for Ceconomy, with the support of the German company's supervisory and management boards, as part of a push into overseas markets at a time it is confronting stiff competition in China.
Closing of the deal is expected to take place in the first half of next year, subject to regulatory clearances, JD.com said.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
December 02, 2025 09:29 ET (14:29 GMT)
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