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JD.com has closed its USD 2.5 billion takeover of German retailer Ceconomy, the parent of MediaMarkt and Saturn. It was completed on Thursday, Nov. 12. The Chinese e-commerce group wants to use it to become Europe’s leading online platform for electronics.
JD Worldwide head Jack Li told Reuters that the purchase will help the company grow beyond China. The move follows a 2025 takeover bid and an EU approval earlier this month. JD.com secured a majority stake a few months after that bid.
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Ceconomy CEO Promises Next-Day Delivery and 30-Minute Store Pickup
Ceconomy CEO Remko Rijnders said the company aims to offer next-day delivery across Europe. It also plans 90-minute delivery through Uber and 30-minute pickup in stores. Shoppers on Joybuy, JD.com’s European online platform, will be able to use MediaMarkt and Saturn’s more than 1,000 branches in eleven countries.
JD plans to expand its regional logistics network, which now has more than 60 centers. Rijnders and his team will keep running the business, and both companies say the current business model will stay in place. After the EU cleared the deal on Nov. 3, Rijnders said “a new chapter is about to begin.”
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The European Commission approved the deal on Nov. 3 under its Foreign Subsidies Regulation. It found that JD.com had received Chinese subsidies, including preferential financing, tax breaks, and grants. As a result, the two companies must keep all transactions between them, especially financing, on arm’s-length terms.
The conditions run for ten years. The deal values Ceconomy at about 2.2 billion euros. Ceconomy owns MediaMarkt, Saturn, and MediaWorld, and it has about 50,000 employees. It also posted a 27% profit rise and 5.3% revenue growth for its 2025/26 fiscal year.
MediaMarktSaturn is Europe’s largest electronics retailer and the fourth-largest online store in Germany, behind Amazon, Otto, and Zalando. Joybuy is also expanding in Germany, where MediaMarktSaturn already has a large online store.