JINGDONG Initiates Takeover of CECONOMY AG

JINGDONG HOLDING GERMANY GMBH, a subsidiary of JD.com, Inc., has announced a voluntary public takeover offer for CECONOMY AG. The offer targets all shareholders of CECONOMY, proposing a cash payment of EUR 4.60 per share. This strategic move involves an investment agreement between the bidder and CECONOMY, signaling planned collaboration post-acquisition.

The largest shareholder group, Convergenta, agreed to reduce its current 29.16% holding to 25.35% as part of the agreement, committing 3.81% of shares to the offer. Other shareholders, representing 31.7% of CECONOMY, have also pledged acceptance.

The offer is contingent upon merger control and foreign investment clearances, with no minimum acceptance threshold. Detailed terms will be outlined in the Offer Document, pending approval by the German Federal Financial Supervisory Authority.