JD.com is due to complete its takeover of Ceconomy within days, the German retailer said on November 3, after the European Commission cleared the deal under the Foreign Subsidies Regulation (FSR).

All offer conditions were met after foreign direct investment approvals in Germany, France, Italy, Spain, and Austria, under the EU’s FSR, which allows the bloc to review foreign financial support in acquisitions and block deals if subsidies are deemed distortive.

JD launched its 4.60-euro-per-share bid in July 2025 through indirect wholly owned unit Jingdong Holding Germany GmbH, valuing Ceconomy at about US$2.5 billion.

Ceconomy, the German parent of electronics chains MediaMarkt and Saturn, said in December 2025 that shareholders had tendered about 59.8% of its shares.

That is below the 95% threshold generally needed in Germany to force out minority shareholders. A domination and profit transfer agreement typically needs approval from holders of at least 75% of the share capital represented at a shareholder meeting.

Ceconomy reported 18.4 billion euros (US$20.6 billion) in revenue for the first nine months of fiscal 2025-26. The acquisition fits JD’s broader strategy of expanding in Europe through retail and logistics.

🔗 Source: Cailianshe

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