CECONOMY AG Supports JD.com's Takeover Offer

CECONOMY AG has entered into an investment agreement with JINGDONG HOLDING GERMANY GmbH, controlled by JD.com. JD.com plans to launch a voluntary public takeover offer for CECONOMY's outstanding shares at EUR 4.60 per share. The Management and Supervisory Boards of CECONOMY intend to back the offer, pending a review of the final offer document.

The offer is contingent on certain conditions, such as merger control and foreign investment clearances. Notably, Convergenta Invest GmbH, related to MediaMarkt's founding family, has committed to tender a portion of its shares while maintaining a reduced stake. Additional stakeholders like Haniel Finance and others, together holding 27.9% of shares, have also agreed to the offer.

CECONOMY will release a detailed opinion on the offer once the official document is published, fulfilling legal requirements.