Reuters reported on November 12 that Chinese e-commerce company JD.com has completed the closing of its acquisition of Germany’s retail group Ceconomy. Li Shuai, CEO of JD.com International, told Reuters that both parties aim to jointly build a leading electronics retail platform in Europe.
JD.com announced on the same day that the company acquired 59.8% of Ceconomy’s share capital and voting rights through an indirect wholly owned subsidiary at a cash price of €4.60 per share, amounting to a total consideration of €1.335 billion. Ceconomy has been consolidated into JD.com’s financial statements since November 12. Convergenta, JD.com’s partner, retains a 25.3% stake, bringing the combined ownership to 85.2%. Reuters described the scale of the completed transaction as $2.5 billion.
Remco Rienks, CEO of Ceconomy, said that with JD.com’s support, the company aims to deliver next-day delivery, 90-minute deliveries via Uber, and 30-minute in-store pickup across Europe. Li Shuai also noted that JD.com plans to expand its existing logistics network, which already includes more than 60 centers in the region.
Ceconomy operates over 1,000 stores across 11 markets under brands including MediaMarkt, Saturn, and MediaWorld. The company had more than 53 million members projected for 2025. JD.com stated that Ceconomy will continue operating independently in Europe, with no current plans to adjust staff or store locations.
Original article: toutiao.com/article/1881695580808196/
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