JD.com completes €1.3B Ceconomy takeover, taking control of MediaMarkt and Saturn
What's the deal? JD.com has completed its voluntary public takeover offer for German consumer electronics retailer CeconomyDealroom has a profile for this one. Try Dealroom →, the parent of MediaMarkt, Saturn and MediaWorld. The deal closed on 12 November 2026. JD.com bought 59.8% of Ceconomy's share capital and voting rights at €4.60 a share in cash, for a total of €1.335 billion (about $1.5 billion). Ceconomy is now a JD.com subsidiary, and its results are consolidated into JD.com's accounts from 12 November.
Who owns what? Ceconomy's anchor shareholder Convergenta keeps its 25.3% stake as JD.com's partner, so the two together hold 85.2% of the company. Closing followed the last outstanding approval, the European Commission's clearance on 3 November under the EU Foreign Subsidies Regulation, which came with ten-year commitments: JD.com must deal with Ceconomy on market terms and offer rival retailers access to its warehousing, logistics and technology services on the same terms.
What changes? Ceconomy runs more than 1,000 stores in 11 European markets, employs around 50,000 people and counted more than 53 million loyalty members in 2025. The companies say it will stay a stand-alone European business with its own local technology stack, with no material changes planned to management, brands, sites or workforce agreements. JD.com brings its e-commerce, logistics and warehouse capabilities. "We can now start to implement our vision and bring it to life," JD.com CEO Sandy Xu said.
Why it matters: The deal gives JD.com a large physical store network in Europe to pair with Joybuy, the online marketplace it launched in the UK, Germany, France and the Benelux in March, backed by more than 60 warehouses and delivery depots in Europe.
Sources: JD.com press release
Ceconomy press release
JD.com HKEX announcement
Ceconomy ad hoc, 3 November
Nikkei Asia
China Daily
Image credit: Media Markt, Bydgoszcz by Przemysław Jahr, public domain, via Wikimedia Commons