JD.com completes €1.335 billion takeover of Ceconomy, taking control of MediaMarkt and Saturn

The MediaMarkt and Saturn stores that sit on many European high streets are, as of today, owned at the parent-company level by a Chinese retailer. This is not a brand-new deal struck overnight. It is the close of a takeover that JD.com first disclosed more than a year ago.

In a filing published at 20:01 Beijing time on Nov. 12, 2026 (7:01 a.m. EST), JD.com told the Hong Kong stock exchange that it had completed its voluntary public takeover offer for Ceconomy AG. Through its indirect wholly owned subsidiary JINGDONG HOLDING GERMANY GMBH, JD.com acquired 59.8% of Ceconomy’s share capital and voting rights for a total of €1.335 billion, or €4.60 in cash per share. Ceconomy becomes a JD.com subsidiary, and its results will be consolidated in JD.com’s financial statements from Nov. 12, 2026. Together with the 25.3% stake retained by JD.com’s partner Convergenta, the combined holding is 85.2%. In a report published at 21:50 Beijing time, Chinese tech site IT Home said €1.335 billion was about 9.914 billion yuan at the then-prevailing exchange rate.

The offer itself was not a surprise. JD.com’s filing points back to announcements on July 31 and Sept. 1, 2025. What is new is that every condition needed to close has now been met, including merger-control, inbound-investment and European Union foreign-subsidy clearances. Ceconomy is a major European consumer-electronics retailer. Under the MediaMarkt, Saturn and MediaWorld brands, it operates more than 1,000 stores in 11 markets, plus online retail. The filing says the business employs more than 50,000 people and, in 2025, had more than 53 million loyalty members and 2.2 billion customer contacts in a year. For shoppers, these are the big-box electronics stores where phones, computers and home appliances are sold both in person and online.

JD.com CEO Sandy Xu said in the announcement that the two companies share a vision of building Europe’s leading next-generation consumer-electronics platform, and that they can now start to put that vision into practice. Ceconomy CEO Remko Rijnders called it a new chapter and said the partnership would combine local expertise and customer relationships with JD.com’s technology and logistics. According to the companies, Ceconomy will remain a stand-alone business in Europe with its own local technology systems. JD.com said it has no plans to change the workforce, employee agreements or sites, and that it intends to keep investing in the consumer brands and their existing identity.

For everyday customers, the closing does not automatically mean a new store name or a redesigned aisle tomorrow. Both sides say the brands and local operations will stay in place for now. Over a longer horizon, JD.com can, if it follows through, apply the retail and logistics technology it has built in China to a European chain with more than a thousand stores and tens of millions of members. Whether that becomes faster delivery or a different online experience is still a company claim, not a change already on the shop floor. For JD.com, the meaning is more immediate: this is no longer a planned acquisition, but a completed one that folds one of Europe’s largest consumer-electronics retailers into its accounts.

Original sources published: Hong Kong Exchange (JD.com filing), Nov 12, 2026, 20:01 Beijing time / 7:01 AM EST; IT之家 (IT Home), Nov 12, 2026, 21:50 Beijing time / 8:50 AM EST