JD.com launches takeover bid for CECONOMY AG

JD.com, through its wholly-owned indirect subsidiary JINGDONG Holding Germany GmbH, has published an offer document for a voluntary public takeover of CECONOMY AG. The offer, initially announced on July 30, 2025, proposes a cash consideration of €4.60 per share for all issued and outstanding bearer shares in CECONOMY. The acceptance period for the Takeover Offer begins on September 1, 2025, and concludes at 6:00 p.m. (New York time) on November 10, 2025, with potential extensions.

The Takeover Offer is contingent upon obtaining merger control, foreign investment, and EU foreign subsidies clearances by November 10, 2026. The acquisition will be financed through an acquisition loan and JD.com's existing cash reserves. The offer does not extend to CECONOMY ADRs; holders must convert their ADRs to shares to participate.