Update shared on02 Aug 2025
Fair value Increased 12%The upward revision in Ceconomy's analyst price target reflects a higher expected future P/E and a lower discount rate, driving an increase in the fair value from €3.82 to €4.08.
What's in the News
- JD.com proposed to acquire a 74.65% stake in Ceconomy AG for €1.7 billion (€4.6 per share), with plans to delist the company upon successful completion.
- Key shareholders representing 57.1% of Ceconomy's shares—including Convergenta, Haniel, Beisheim, freenet AG, and others—have irrevocably committed to tendering their shares.
- Convergenta will retain an approximately 25.35% stake in Ceconomy post-transaction and partners with JD.com under a shareholder agreement.
- Ceconomy will remain a stand-alone business in Europe, with no workforce or site changes, and JD.com will help accelerate its omni-channel transformation using advanced technology and logistics.
- The offer, subject to regulatory approvals, does not require a minimum acceptance rate and is expected to close in the first half of 2026; Ceconomy's boards intend to recommend shareholders accept the offer.
Valuation Changes
Summary of Valuation Changes for Ceconomy
- The Consensus Analyst Price Target has risen from €3.82 to €4.08.
- The Future P/E for Ceconomy has risen from 5.10x to 5.41x.
- The Discount Rate for Ceconomy has fallen slightly from 9.21% to 8.83%.
Disclaimer
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