On 24 July, Ceconomy confirmed it was in “advanced negotiations” with the Chinese retail giant JD.com with a view to a potential takeover: JD.com is considering a voluntary public cash offer at €4.60 per share for all ordinary bearer shares, in accordance with the German law on the acquisition of shareholdings. At this stage, no binding agreement has been signed, and the outcome remains uncertain. Discussions would also involve Ceconomy’s key shareholders, the Haniel and Kellerhals families, who respectively hold 16.7% and 30% of the shares.

According to calculations by Bloomberg, this offer would represent a valuation of around €2.2bn, a premium of close to 23% on the previous closing price. Mediamarkt, Mediaworld and Saturn operate a major consumer electronics network in Europe, including a shop in Luxembourg’s Gare district and one in Belval.

Founded in 1998, JD.com is today the second largest e-commerce player in China and is growing its international presence. Its omnichannel Ochama concept, launched in January 2022, combines physical shops, automated order preparation and delivery to homes or collection points. Ochama’s services now cover 24 European countries, including Luxembourg, thanks to an automated warehouse in the Netherlands.

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