JD.com has launched a takeover offer for CECONOMY, expanding its e-commerce business. JD.com operates through four segments: JD Retail, JD Logistics, Dada, and New Businesses. JD Retail includes online retail, online marketplace, and marketing services in China, while JD Logistics offers internal and external logistics services. Dada is a local on-demand delivery and retail platform in China, and New Businesses include JD Property, Jingxi, and overseas businesses.
JD.com has announced the start of the acceptance period for its voluntary public takeover offer for CECONOMY AG. The offer, which was published following approval by the German Federal Financial Supervisory Authority (BaFin), provides an attractive premium of approximately 42.6% to the three-month volume weighted average share price (VWAP) as of July 23, 2025. The offer price is EUR 4.60 per share in cash.
The acceptance period for the offer runs from September 1, 2025, to November 10, 2025, and the offer does not have a minimum acceptance threshold. The delisting of CECONOMY is expected to be implemented shortly after the completion of the offer. JD.com has already secured irrevocable undertakings from shareholders for an aggregate 31.7% of the total share capital of CECONOMY, securing a total shareholding of 57.1% in combination with the retained stake of JD.com's future partner Convergenta.
The Management Board and Supervisory Board of CECONOMY fully support the offer and intend to recommend that shareholders accept it. The offer document and other relevant information can be found at www.green-offer.com. The closing of the offer is subject to customary regulatory conditions, including merger control, foreign investment, and EU foreign subsidies clearances, and is expected to be completed in the first half of 2026.
JD.com's strategic investment in CECONOMY aims to drive the company's growth as a stand-alone business and accelerate its transformation into Europe's leading next-generation consumer electronics platform. The partnership will leverage JD.com's advanced technology, leading omni-channel retail expertise, and logistics and warehouse capabilities.
References:
[1] https://www.eqs-news.com/news/corporate/jd-com-announces-start-of-the-acceptance-period-for-its-voluntary-public-takeover-offer-for-ceconomy-ag/b5e55b6c-c3da-45b1-841d-fc258c44c561_en
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