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JD.com Eyes Acquisition of Germany’s Ceconomy
GERMANY, JUL 24 – JD.com aims to expand in Europe by acquiring Ceconomy, owner of nearly 1,000 stores and generating €22.4 billion in revenue last fiscal year, officials said.
- Thursday reported by Bloomberg and Reuters entered advanced negotiations to acquire Ceconomy for €2.2 billion, with no binding agreement signed yet.
- Having revived its interest in February, JD.com first revived its interest in acquiring the Frankfurt-listed company, Bloomberg News reported, while earlier attempts fell through.
- Ceconomy serves as parent to major retail chains with nearly 1,000 stores across Europe, and the potential €4.6 per share offer represents a 23% premium to €3.75.
- While shares surged, some big shareholders balked, people familiar with the matter said, as Ceconomy extended gains to 15.5 percent and hit its highest intraday level since November 2021.
- No binding agreement has yet been signed, and key shareholders including the Kellerhals family and Haniel have not commented on the ongoing discussions.
32 Articles
32 Articles
China's second-largest online retailer, JD.com, is attempting to acquire the German electrical dealer Ceconomy, which includes Mediamarkt-Saturn. It could become a billion-dollar deal.
JD.com in talks to acquire MediaMarkt parent company Ceconomy for $2.58 billion · TechNode
JD.com is in advanced negotiations to acquire German electronics retailer Ceconomy for €2.2 billion ($2.58 billion), according to Bloomberg and Reuters. Ceconomy confirmed on Thursday that it is holding in-depth talks with JD, noting a potential offer of €4.6 per share. No binding agreement has yet been signed. Ceconomy is the parent company of retail chains MediaMarkt and Saturn, which together operate nearly 1,000 stores across Europe and empl…
German Ceconomy, the parent company of the electronics chains MediaMarkt and Saturn, is in advanced talks about being acquired by the major Chinese online retailer JD.com in a deal worth approximately €2.2 billion. Ceconomy operates over a thousand MediaMarkt and Saturn stores in Europe. MediaMarkt has more than fifty stores in the Netherlands.
The negotiations are said to have already progressed: A Chinese online company is in love with a takeover of the electronic chains MediaMarkt and Saturn. Corresponding rumors had existed for a long time.
Is the owner changing at Mediamarkt and Saturn? The Chinese company JD.com is currently in talks.
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