Core Viewpoint - JD.com, a Chinese e-commerce giant, plans to acquire German consumer electronics retailer Ceconomy for €2.2 billion (approximately S$3.3 billion) [1] Group 1: Acquisition Details - The acquisition will be completed at a price of €4.60 per share [3] - Ceconomy CEO Kai-Ulrich Deissner stated that the partnership will connect JD.com with unique technology and leading retail expertise globally [3] - The acquisition will enable JD.com to compete with major e-commerce players like Alibaba and Amazon outside of China [3] Group 2: Ceconomy's Operations - Ceconomy operates two major brands, MediaMarkt and Saturn, which have around 1,000 stores across several European countries and employ approximately 50,000 people [3] - The largest single shareholder, the Kellerhals family, will sell 3.81% of their shares to JD.com while retaining 25.35% [4] - Other shareholders, including Haniel, Beisheim, BC Equities, and Freenet, hold about 27.9% of shares and will sell their stakes to JD.com [4] Group 3: Financial Performance - Ceconomy's sales for the fiscal year 2023/24 reached €22.4 billion, with €5.1 billion coming from online stores [4] Group 4: Transaction Timeline and Expectations - The transaction is expected to be completed in the first half of next year, with no forced layoffs anticipated in the three years following the acquisition [4] - Deissner expressed confidence that antitrust authorities would not raise objections to the acquisition [4]
京东将斥资22亿欧元收购德国消费电子产品零售商