By Aimee Look


JD.com acquired a stake in Ceconomy as part of its $2.6 billion takeover deal, giving it and partner Convergenta majority control of the German consumer-electronics retailer.

Beijing-based e-commerce group JD.com is seeking to bolster its presence abroad as it contends with escalating rivalry at home. JD.com's offer for Ceconomy, announced in July, values the retailer at around 2.23 billion euros, or 4.6 euros a share.

JD.com said Friday its German subsidiary secured 45.5% of share capital and voting rights in Ceconomy during an initial offer period that ended Monday, while Convergenta holds a 25.35% stake in the company. The companies will together have a 70.9% stake in Ceconomy, JD.com said.

Four companies, Haniel, Beisheim, Freenet and Convergenta, sold shares in Ceconomy to JD.com as part of the deal, according to Ceconomy.

JD.com said Ceconomy shareholders can accept the takeover offer until Nov. 27, which is in accordance with German regulations.

The deal is subject to regulatory approval, and Ceconomy's delisting might be implemented after the offer is complete, JD.com said.

"[The offer is] supported by the strong backing of shareholders as well as Ceconomy's Management Board and Supervisory Board," JD.com's Chief Financial Officer Ian Su Shan said.

Ceconomy's Chief Executive Kai-Ulrich Deissner said the partnership and offer are in the best interests of Ceconomy, its employees and also its shareholders.

The acquisition comes as JD.com is making a push into Europe, faced with mounting competition from the likes of Alibaba and PDD Holdings in China, HSBC analysts said in a note. JD.com has upped its investment in local-to-local e-commerce in the U.K., France and Germany, according to the analysts.


Write to Aimee Look at aimee.look@wsj.com


(END) Dow Jones Newswires

11-14-25 0844ET