Group 1 - The article discusses a voluntary public takeover offer by JD.com to acquire all issued and outstanding shares of CECONOMY at a cash price of €4.60 per share, valuing the transaction at approximately €2.2 billion [3][5]. - The acceptance period for the takeover offer is set from September 1, 2025, to November 10, 2025, with the possibility of extension under certain conditions [5]. - CECONOMY, a leading European consumer electronics retailer, was established in 2017 and operates major brands MediaMarkt and Saturn, combining e-commerce with over 1,000 retail stores across more than ten countries [5]. Group 2 - For the first half of the fiscal year 2024, CECONOMY reported sales revenue of €12.82 billion, a 4% increase year-over-year, with adjusted EBIT rising to €589 million, reflecting a 14.3% growth [6]. - The company's gross margin improved slightly to 17.5% for the first half of 2024, while the adjusted gross margin remained stable at 17.7% [6]. - JD.com is focusing on international expansion, emphasizing local e-commerce strategies and building local teams, with over 2,000 employees already in place [7].

Core Viewpoint - JD Group announced a voluntary public takeover offer for CECONOMY AG, the parent company of MediaMarkt and Saturn, at a price of €4.60 per share, totaling approximately €2.23 billion or 185 billion RMB for all outstanding shares [1][4]. Acquisition Details - The acquisition offer is subject to several conditions, including regulatory approvals by November 10, 2026, and the acceptance period runs from September 1, 2025, to November 10, 2025 [6]. - CECONOMY has 485 million shares outstanding, and the offer price represents a significant premium, as CECONOMY's stock price surged over 12% on the announcement day [4][6]. Strategic Intent - The partnership aims to enhance CECONOMY's growth while maintaining its independent operations and local technology infrastructure [7]. - JD Group's CEO expressed confidence in CECONOMY's market position and emphasized the commitment to support its talent development and unique corporate culture [7]. Recent Performance - JD Group reported a revenue of 356.7 billion RMB (approximately $49.8 billion) for Q2 2025, marking a 22.4% year-over-year increase, surpassing market expectations [8]. - The company has been actively expanding its presence in various sectors, including food delivery, and has made significant investments in leading companies within the smart technology field [7][8].

京东185亿元大手笔收购又有新进展！ 9月1日，京东集团宣布，将通过其全资间接附属公司JINGDONG Holding Germany GmbH发布要约文 件。该要约文件有关向欧洲领先的消费电子产品零售商MediaMarkt及Saturn的母公司CECONOMY AG所 有股东作出自愿公开收购要约，以每股4.60欧元的现金对价收购CECONOMY的所有已发行及流通的不记 名股份。 据了解，京东此前于2025年7月30日宣布决定作出该收购要约。Wind显示，目前CECONOMY共有4.85亿 股股份，按每股4.60欧元的价格计算，京东收购CECONOMY全部股份所需资金达到22.31亿欧元，按最新 汇率约合185亿元人民币。京东的介入，迅速提振了CECONOMY的股价，在7月24日公布与京东就要约收 购进行谈判的当天，CECONOMY股价就曾大涨超12%，此后股价最高涨至4.54欧元/股。 京东在本次公告中表示，本次收购要约及因接受要约而成立的合约均须满足若干先决条件，包括于2026年 11月10日前获得经营者集中审批、外商投资审批及欧盟外国补贴审批。收购要约的接受期自2025年9月1 日开始，至2025年11 ...

Core Viewpoint - JD Group announced a voluntary public acquisition offer for CECONOMY, the parent company of MediaMarkt and Saturn, at a cash price of €4.60 per share [1][4]. Group 1: Acquisition Details - The acceptance period for the acquisition offer will start on September 1, 2025, and end on November 10, 2025, with the possibility of extension under specific circumstances [4]. - The funding for the acquisition will be arranged through a combination of merger loans and existing cash on the company's balance sheet [4]. - As of July 31, JD Group reported that the acquisition offer has received support from a total of 57.1% of CECONOMY's shareholders, with completion expected in the first half of 2026 [4]. Group 2: Strategic Intentions - JD Group's CEO, Xu Ran, stated that the company will invest resources to support talent development and unique corporate culture, accelerating CECONOMY's transformation process [4]. - CECONOMY, a leader in the European consumer electronics retail industry, operates the MediaMarkt and Saturn brands across 11 countries with over 1,000 retail stores [4]. - According to the agreement, CECONOMY will maintain independent operations in Europe, with its own local technical infrastructure, and JD Group has no plans to adjust personnel, employee agreements, or office locations [4]. - Both the supervisory board and management committee of CECONOMY support the public acquisition offer [4].

Group 1 - JD Group announced a voluntary public takeover offer for CECONOMY's shareholders at a cash price of €4.60 per share [1] - The valuation of the transaction is approximately €2.2 billion, equivalent to over 18 billion RMB [1] - The acceptance period for the takeover offer is from September 1, 2025, to November 10, 2025, with the possibility of extension under certain conditions [1] Group 2 - CECONOMY is a leader in the European consumer electronics retail industry, operating the MediaMarkt and Saturn brands [2] - CECONOMY combines e-commerce with over 1,000 retail stores across 11 countries [2] - As part of its strategic planning, CECONOMY will maintain independent operations in Europe without plans to adjust personnel or office locations [2]

Group 1 - JD Group is actively expanding its international presence, particularly in the European market [1] - On July 31, JD Group announced a voluntary public takeover offer for CECONOMY's shareholders at a price of €4.60 per share, totaling approximately €22.31 billion [3][4] - CECONOMY, a leader in the European consumer electronics retail sector, operates major brands MediaMarkt and Saturn, combining strong e-commerce with over 1,000 retail stores across 11 countries [3][4] Group 2 - The acquisition will be financed through a combination of merger loans and existing cash on the company's balance sheet, with completion expected in the first half of 2026 [3] - JD has signed investment agreements with CECONOMY regarding the takeover and future cooperation, ensuring that Convergenta will hold 25.35% of CECONOMY shares post-acquisition [3][4] - Convergenta has committed to accept the takeover offer for its 3.81% stake, reducing its total shareholding from 29.16% [4] Group 3 - The strategic investment agreement aims to promote CECONOMY's growth while maintaining its independent operations and local technical infrastructure [5] - JD Group's CEO expressed confidence in CECONOMY's market position and growth momentum, emphasizing resource investment in talent development and corporate culture [5] - CECONOMY's CEO highlighted the partnership with JD as a means to accelerate growth and adapt to changing customer expectations and market dynamics [5]

Core 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].

Core Viewpoint - JD Group announced a voluntary public acquisition offer for CECONOMY's shareholders at a price of €4.60 per share, aiming to acquire all issued and circulating shares of CECONOMY, the parent company of leading European consumer electronics retailers Media Markt and Saturn [1][5]. Group 1: Acquisition Details - The acquisition offer is valued at approximately €22.31 billion, equivalent to about 183 billion RMB, based on CECONOMY's total of 485 million shares [4]. - Funding for the acquisition will be arranged through a combination of acquisition loans and existing cash on the company's balance sheet, with the deal expected to be completed in the first half of 2026 [5]. - JD has signed an investment agreement with CECONOMY regarding the acquisition and future cooperation, with a shareholder agreement in place with CECONOMY's largest shareholder, Convergenta Invest GmbH, contingent on the completion of the acquisition [5][6]. Group 2: Shareholder Support - Convergenta has committed to accept the acquisition offer for its 3.81% stake, reducing its holding from 29.16% to 25.35% [6]. - JD 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 [6]. - With the support from Convergenta, JD is positioned to secure a total of 57.1% of shares in favor of the acquisition [6]. Group 3: Strategic Intent - The partnership aims to enhance CECONOMY's growth while maintaining its independent operations in Europe, with no plans to adjust personnel or office locations [7]. - JD's CEO emphasized the commitment to invest resources in CECONOMY's talent development and corporate culture, leveraging JD's advanced technology and logistics capabilities to accelerate CECONOMY's transformation [7]. - CECONOMY's CEO expressed confidence that JD's retail, logistics, and technology strengths will help accelerate their growth trajectory and lead the transformation of the European retail landscape [8].

Group 1 - JD Group aims to establish itself as a leading omnichannel consumer electronics platform in Europe by acquiring CECONOMY AG, the parent company of MediaMarkt and Saturn, with a voluntary cash offer of €4.60 per share, valuing the company at approximately €2.2 billion [1][4] - CECONOMY's CEO, Dr. Kai-Ulrich Deissner, expressed that JD's retail, logistics, and technology capabilities can accelerate CECONOMY's growth trajectory and help lead the transformation of the European retail sector [4][9] - The acquisition has already secured support from over 57.1% of CECONOMY's shareholders, including a commitment from Convergenta Invest GmbH to accept the offer for its shares [6][9] Group 2 - CECONOMY reported a 1.6% decline in sales to €5.2 billion for Q1 2025, but its online business saw a 7.4% increase, reaching nearly €1.3 billion, indicating strong growth potential [7] - The strategic investment agreement ensures that CECONOMY will maintain independent operations in Europe, with no plans to alter personnel or office locations [8][9] - JD Group's CEO, Xu Ran, emphasized the commitment to support CECONOMY's talent development and unique corporate culture while leveraging advanced technology to accelerate its transformation [9]

Group 1 - JD Group aims to establish a leading omnichannel consumer electronics platform in Europe by making a voluntary public offer to acquire CECONOMY AG at €4.60 per share, valuing the company at approximately €2.2 billion (around ¥18.1 billion) [2] - The acquisition, if completed, would set a new record for Chinese e-commerce companies entering the European market [2] - CECONOMY's CEO, Kai-Ulrich Deissner, expressed that JD's retail, logistics, and technology capabilities could accelerate CECONOMY's growth trajectory beyond current strategic goals [5] Group 2 - JD has secured support from over half of CECONOMY's shareholders for the acquisition, including agreements with major shareholders like Convergenta Invest GmbH [5][6] - Convergenta has committed to accept the offer for its 3.81% stake, reducing its ownership from 29.16% to 25.35%, while other shareholders have also agreed to accept the offer for a total of 31.7% of CECONOMY's shares [6] - This ensures JD has the backing of a total of 57.1% of shares before the public offer [6] Group 3 - CECONOMY reported a 1.6% decline in sales to €5.2 billion for Q1 2025, but its online business grew by 7.4% to nearly €1.3 billion, accounting for a quarter of total sales, indicating strong growth potential [7] - Under the strategic investment agreement, CECONOMY will maintain independent operations in Europe while accelerating its transformation into a leading omnichannel consumer electronics platform [8] - JD's CEO, Xu Ran, emphasized the commitment to support CECONOMY's talent development and unique corporate culture while leveraging JD's advanced technology to enhance CECONOMY's transformation process [8]