Company Announcements

CECONOMY AG ("CECONOMY") today entered into an investment agreement with JINGDONG HOLDING GERMANY GmbH ("Bidder"), a holding company indirectly controlled by JD.com ("JD"). The investment agreement is related to the Bidder's announcement today of its intention to launch a voluntary public takeover offer for all outstanding shares in CECONOMY at a cash consideration of EUR 4.60 per share. 

CECONOMY's Management Board and Supervisory Board will support the announced offer, subject to review of the offer document, which is yet to be published by the Bidder. 

The offer will be subject to customary conditions, including, inter alia, merger control and foreign investment clearances, as well as clearance under the EU Foreign Subsidies Regulation. 

CECONOMY was further informed that the Bidder and Convergenta Invest GmbH ("Convergenta") entered into a shareholder agreement today. Through Convergenta, the founding family of MediaMarkt, the Kellerhals family, currently holds approximately 29.16% of the shares in CECONOMY. Convergenta has committed to tender 18.5 million shares (3.81%) into the offer, hence retaining a stake of around 25.35% in CECONOMY thereafter. 

Moreover, CECONOMY has been informed that Haniel Finance Deutschland GmbH, Beisheim Holding GmbH, BC Equities GmbH & Co. KG and freenet AG – who together hold approximately 27,9% of the shares – have each irrevocably undertaken to accept the Bidder's takeover offer with respect to their respective shareholdings. 

Following publication of the offer document, the Management Board and Supervisory Board of CECONOMY will issue and publish a reasoned opinion on the public takeover offer in accordance with their statutory obligations. 

Contact:
CECONOMY AG
Kaistr. 3
40221 Düsseldorf
Germany

Notifying Person: Fabienne Caron, VP Investor Relations, CECONOMY AG