Ceconomy, the parent company of MediaMarkt and Saturn, confirms that “advanced negotiations” are underway with JD.com. Rumours about the Chinese online retailer’s interest in a takeover have been circulating for some time.
2.2 billion euros
The MediaMarkt owner confirms advanced negotiations with JD.com regarding a possible acquisition in a press release, but immediately emphasises that it is not yet certain whether this will actually result in a takeover bid. The Chinese company is said to be considering an offer of 4.6 euros per share, meaning the whole takeover would amount to 2.2 billion euros.
Earlier this year, Bloomberg news agency had already reported that JD.com was exploring a possible deal with major shareholders of the company. At the time, Ceconomy declined to comment on the report. Talks between the two companies were also held in 2023.
A possible takeover must be approved by the group’s major shareholders. The Haniel, Beisheim and Schmidt-Ruthenbeck families together own about a third of Ceconomy. The Haniel family, which holds 16.7 % of the shares, is seen as a crucial link in the negotiations. In addition, the descendants of MediaMarkt founder Erich Kellerhals, who also hold almost 30 % of the shares, form a second power bloc.
