Zheng Quan Shi Bao·2025-07-31 08:31Core Viewpoint - JD.com is intensifying its international expansion efforts, particularly in the European market, by making a voluntary public acquisition offer for CECONOMY, a leading consumer electronics retailer in Europe, at a price of €4.60 per share [1][3]. Group 1: Acquisition Details - JD.com plans to acquire all issued and outstanding shares of CECONOMY, which has a total of 485 million shares, requiring approximately €22.31 billion (around ¥183 billion) for the acquisition [3]. - The funding for the acquisition will be arranged through a combination of merger loans and existing cash on the company's balance sheet [3]. - The acquisition offer is expected to be completed in the first half of 2026 [3]. Group 2: Strategic Partnerships - JD.com has signed an investment agreement with CECONOMY regarding the acquisition offer and future cooperation [3]. - Convergenta, CECONOMY's largest shareholder, has committed to accepting the acquisition offer for its 3.81% stake, reducing its ownership from 29.16% [4]. - JD.com has secured irrevocable commitments from shareholders representing a total of 31.7% of CECONOMY's shares, ensuring support for the acquisition before the public offer [4]. Group 3: Operational Independence - CECONOMY will maintain its independent operations in Europe, with no plans to adjust personnel, employee agreements, or office locations [5]. - The management and supervisory boards of CECONOMY fully support the public acquisition offer [5]. - Both companies aim to leverage JD.com's advanced technology and logistics capabilities to enhance CECONOMY's growth and transformation into a leading omnichannel consumer electronics platform in Europe [4][5].