JD.com Unit to Buy Ceconomy

Dow Jones07-31

By Kelly Cloonan

A unit of JD.com has offered to take over electronics retailer Ceconomy in a bid that values the German group at about $2.63 billion.

JD.com said Wednesday it has offered to acquire all issued and outstanding shares of the company for a cash offer of 4.60 euros each. The bid would value Ceconomy at 2.23 billion euros ($2.63 billion).

JD.com said its subsidiary has signed an investment agreement with Ceconomy regarding the takeover offer, which would give Ceconomy's largest shareholder group a 25% stake after the close of the transaction, down from 29%.

The Beijing-based online retailer's Chief Executive Sandy Xu said the company aims to apply its technology capabilities to accelerate Ceconomy's ongoing transformation and grow its platform across Europe.

"CECONOMY's market-leading position, strong customer relationships and growth are impressive, and we are firmly committed to investing in its people and distinct culture to build on this success," Xu said.

Ceconomy previously announced the potential takeover offer last week.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

July 30, 2025 17:39 ET (21:39 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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