Chinese e-commerce giant JD.com completes €1.3 billion takeover of German retailer CECONOMY
Chinese e-commerce giant JD.com has completed its €1.3 billion takeover of German retailer CECONOMY, acquiring 59.8% of the company's share capital.
The Chinese e-commerce company completed its takeover offer for 59.8% of CECONOMY for total consideration of EUR 1,335 million on November 12, 2026. CECONOMY's financial results will now be consolidated into JD.com's statements from that date.
According to the release, JD.com's partner Convergenta retained a 25.3% stake, bringing the combined shareholding in CECONOMY to 85.2%. The acquisition was made through JINGDONG HOLDING GERMANY GMBH, an indirect wholly-owned subsidiary of JD.com.
JD.com and CECONOMY share a common vision to build Europe's leading next-generation consumer electronics platform. We can now start to implement our vision and bring it to life.
Retail Expansion
The deal gives JD.com a substantial physical retail presence in Europe, as CECONOMY operates more than 1,000 consumer electronics stores in 11 markets under the MediaMarkt, Saturn and MediaWorld brands. The company also has online retail operations and employs over 50,000 people.
CECONOMY will remain a stand-alone business in Europe with a local independent technology stack. The companies have pledged no changes to the workforce, employee agreements and sites, with JD.com committing to invest in CECONOMY's consumer brands while preserving their heritage.
Today marks the beginning of a new chapter for CECONOMY. Our partnership with JD.com has become reality and we are ready to move into implementation with full momentum.
Next Steps
Investors will be watching JD.com's Q3 2026 results on November 17, which will be the first earnings release after CECONOMY's consolidation began on November 12. These results may show how the acquisition affects JD.com's business mix.
The implementation roadmap for the partnership will reveal how JD.com's technology and logistics capabilities combine with CECONOMY's stores and online operations while maintaining CECONOMY's independent structure. The financial impact on the combined group remains to be seen.
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