JD.com is an important step closer to acquiring Ceconomy: the Chinese e-commerce player has acquired an 85.2% majority stake in the German holding company that owns MediaMarkt and Saturn.
A matter of months
Approximately 60% of the stake comes from JD.com’s public takeover bid; the rest follows from an agreement with Convergenta, the holding company of the major shareholder family Kellerhals. Convergenta will retain 25.35% after the transaction. The transaction is valued at 2.2 billion euros.
The German Federal Cartel Office gave its approval back in September, as JD.com has so far only been active on the German market to a very limited extent. Foreign trade authorities and the EU have yet to give their blessing, but they are likely to follow the same reasoning. The deal is expected to be completed in the first half of 2026.
