Chinese e-commerce operator JD.com (NASDAQ: JD) completed its acquisition of a 59.8% majority stake in German consumer electronics giant Ceconomy AG (ETR: CEC) on November 12, paying 1.335 billion euros through its subsidiary Jingdong Holding Germany via a voluntary public takeover offer priced at 4.60 euros per share, as reported by Jornal Económico.
The transaction gives the buyer operational control over a major European retail network spanning more than a thousand stores across 11 markets, including the MediaMarkt, Saturn, and MediaWorld chains. By combining this acquisition with the 25.3% stake retained by historical shareholder Convergenta—linked to the founding Kellerhals family—the two partners now control 85.2% of the German retailer’s total capital and voting rights, according to Grande Consumo.
The deal cleared all regulatory hurdles concerning competition, foreign investment, and foreign subsidies from the European Union before closing. Ceconomy began consolidating its financial results into the books of JD.com on November 12. Hipersuper said that the German company operates in Portugal under the MediaMarkt brand, employing a workforce exceeding 50,000 people.
Data released by the companies shows that Ceconomy registered more than 53 million members across its customer loyalty programs in 2025 alongside 2,2 mil milhões de contactos anuais com clientes. SAPO reported that management structures, labor agreements, and brand architectures will remain intact as the retailer continues to operate independently within Europe using its existing technological infrastructure.
“A JD.com e a Ceconomy partilham a visão comum de construir a principal plataforma europeia de eletrónica de consumo de nova geração. Podemos agora começar a implementar a nossa visão e dar-lhe vida,” said Sandy Xu, Chief Executive Officer of JD.com, in a statement published by SAPO.
Remko Rijnders, Chief Executive Officer of Ceconomy, emphasized that the alliance merges local market knowledge with international technological prowess to enhance the overall shopping experience for European retail clients.
| Metric | Ceconomy AG Data |
|---|---|
| Acquisition Stake | 59.8% acquired by JD.com (85.2% total with Convergenta) |
| Transaction Value | 1.335 billion euros (4.60 euros per share) |
| Retail Footprint | Over a thousand stores across 11 European markets |
| Workforce & Reach | 50,000+ employees; 53 million loyalty members (2025) |
The transaction marks a definitive step for the Chinese e-commerce operator in establishing a permanent physical and digital footprint within the European retail sector.
