Chinese online retailer JD.com has acquired a significant majority stake in Ceconomy AG, the parent company of electronics chains MediaMarkt and Saturn. Ceconomy announced in Düsseldorf on Tuesday that JD.com’s share has risen to 59.8% of the company’s capital and voting rights. Together with the remaining stake held by Convergenta, the investment firm of the Kellerhals founding family, the total ownership now amounts to 85.2%.
Ceconomy CEO Kai-Ulrich Deissner said he was pleased that shareholders followed the recommendation to accept JD.com’s offer. With the Chinese company as a partner, he said, the existing growth strategy can be accelerated, strengthening the company’s position “as Europe’s leading omnichannel platform” for consumer electronics.
However, the takeover is not yet final. Although Germany’s Federal Cartel Office granted approval in September, stating that JD.com is currently “active only to a very limited extent in Germany”, completion of the acquisition is still subject to foreign trade approvals and clearance under the EU regulation on foreign subsidies. Ceconomy expects the deal to be finalized in the first half of 2026.
Ceconomy operates a network of stores under the MediaMarkt and Saturn brands and also runs online retail operations. According to the Cartel Office, JD.com is “China’s largest retailer by revenue and particularly active in online retail and e-commerce logistics.” At the end of July, JD.com and Ceconomy announced that an “investment agreement” had been signed for the Düsseldorf-based company to be taken over by JD.com.
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