Flick Gocke Schaumburg advises CECONOMY on partnership with JD.com

Flick Gocke Schaumburg has advised CECONOMY AG, parent of the electronics retail chains MediaMarkt and Saturn, on the tax aspects of a partnership with the Chinese group JD.com. JD.com is a leading supply chain-based technology and service provider and brand platform.

JD.com intends to make a voluntary public cash takeover offer for all CECONOMY shares at an offer price of EUR 4.60 per share, corresponding to an enterprise value of EUR 4 billion. The group has already secured irrevocable commitments for around 32 percent of the share capital, including from Haniel, Beisheim, Freenet and Convergenta. CECONOMY’s founder family shareholder Convergenta will maintain an approx. 25.4 percent shareholding following the public takeover offer and remain an important shareholder.

Advisors to CECONOMY AG: Flick Gocke Schaumburg

Dr. Florian Holzner; associates: Dr. Alexander Al Hamwi, Dr. Benjamin Graßl (all tax law)

CECONOMY AG, headquartered in Düsseldorf, is a European leader for concepts and brands such as MediaMarkt, MediaWorld and Saturn in the consumer electronics sector. It has a network of more than 1,000 stores in 11 countries.

JD.com is China’s largest retailer by revenue. It generated net revenues of USD 158.8 billion (EUR 147.0 billion) in the financial year ending December 31, 2024. JD.com employs around 1,600 people in Europe and operates logistics services and warehouses in many European countries, including Germany, the UK, France, the Netherlands and Poland. <<<