Electronics, China's JD.com acquires Ceconomy which controls MediaWorld
In Italy, the chain has 144 sales outlets and 5,000 employees, in 2024 it had a turnover of EUR 2.4 billion in the country
2' min read
2' min read
The Chinese e-commerce giant JD.com takes over the German group Ceconomy, one of Europe's largest electronics retailers. Ceconomy 'signs an investment agreement with JD.com', reads a note from the Düsseldorf-based company, whose portfolio includes the MediaMarkt and Saturn chains, in Italy operating under the MediaWorld brand. JD.com, the third largest Chinese e-commerce operator after Alibaba and Temu, is already present in some European countries, including France, the UK and the Netherlands, with its Ochama platform. With this acquisition, it will have access to an impressive distribution network, as Ceconomy with MediaMarktSaturnRetail Group has more than 1,000 shops on the continent, with 48,000 employees and 22.4 billion in turnover (data 2024) and describes itself as 'the first consumer electronics chain in Europe'.
2.2 billion transaction
.For the transaction, JD.com will launch a voluntary takeover offer at a price of EUR 4.60 per share 'representing an attractive premium of 43 per cent to the three-month volume-weighted average price as of 23 July 2025', the note further states. It has been calculated that JD.com will pay a value of approximately EUR 2.2 billion for this acquisition.
The main shareholders of Ceconomy - Haniel, Beisheim, Freenet and the founding family holding Convergenta - have signed binding commitments to accept the offer for approximately 32% of the capital. And Convergenta itself will retain a 25.4 per cent shareholding. The board of directors and supervisory board, the German group announced, 'support the partnership with JD.com to accelerate the strategy and growth trajectory of Ceconomy's experience electronics by increasing financial flexibility, gaining access to JD.com's industry-leading technology, omnichannel retail and logistics capabilities, and simplifying the ownership structure'. They also 'intend to recommend acceptance of the offer to shareholders'.
For Ceconomy operational independence
.The operational independence of Ceconomy will be preserved in the transaction. "JD.com has committed not to enter into a domination and/or profit and loss transfer agreement," the Düsseldorf-based group emphasised, adding: "The investment agreement includes binding commitments for Ceconomy's current growth strategy, employees, headquarters and shops, as well as the company's iconic brands."
According to observers, JD.com has been on the lookout for acquisitions to expand against a backdrop of a weak Chinese economy: last year, it evaluated the acquisition of British electronics retailer Currys Plc. The current deal is likely to help JD.com narrow its overseas gap with other Chinese e-commerce players, as it would 'strengthen JD.com's European logistics and supply chain, supporting its push towards a localised, premium e-commerce model distinct from Temu and Shein's low-cost strategy,' analysts at Bloomberg Intelligence wrote.
