Ad-hoc | 30 July 2025 23:01
CECONOMY AG: CECONOMY AG enters into investment agreement with JD.com and supports public takeover offer by JD.com
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CECONOMY AG / Key word(s): Mergers & Acquisitions/Tender Offer
CECONOMY AG (“CECONOMY”) today entered into an investment agreement with JINGDONG HOLDING GERMANY GmbH (“Bidder”), a holding company indirectly controlled by JD.com (“JD”). The investment agreement is related to the Bidder’s announcement today of its intention to launch a voluntary public takeover offer for all outstanding shares in CECONOMY at a cash consideration of EUR 4.60 per share. CECONOMY’s Management Board and Supervisory Board will support the announced offer, subject to review of the offer document, which is yet to be published by the Bidder. The offer will be subject to customary conditions, including, inter alia, merger control and foreign investment clearances, as well as clearance under the EU Foreign Subsidies Regulation. CECONOMY was further informed that the Bidder and Convergenta Invest GmbH (“Convergenta”) entered into a shareholder agreement today. Through Convergenta, the founding family of MediaMarkt, the Kellerhals family, currently holds approximately 29.16% of the shares in CECONOMY. Convergenta has committed to tender 18.5 million shares (3.81%) into the offer, hence retaining a stake of around 25.35% in CECONOMY thereafter. Moreover, CECONOMY has been informed that Haniel Finance Deutschland GmbH, Beisheim Holding GmbH, BC Equities GmbH & Co. KG and freenet AG – who together hold approximately 27,9% of the shares – have each irrevocably undertaken to accept the Bidder’s takeover offer with respect to their respective shareholdings.
Following publication of the offer document, the Management Board and Supervisory Board of CECONOMY will issue and publish a reasoned opinion on the public takeover offer in accordance with their statutory obligations.
End of Inside Information
30-Jul-2025 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | CECONOMY AG |
| Kaistr. 3 | |
| 40221 Düsseldorf | |
| Germany | |
| Phone: | +49 (0)211 5408-7222 |
| Fax: | +49 (0)211 5408-7005 |
| E-mail: | fabienne.caron@ceconomy.de |
| Internet: | www.ceconomy.de |
| ISIN: | DE0007257503, DE0007257537, Weitere: www.ceconomy.de/de/investor-relations/ |
| WKN: | 725750, 725753, Weitere: www.ceconomy.de/de/investor-relations/ |
| Indices: | SDAX |
| Listed: | Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 2177262 |
| End of Announcement | EQS News Service |
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2177262 30-Jul-2025 CET/CEST