EU clears JD.com’s purchase of CECONOMY with conditions
The last regulatory clearance opens the way for the Chinese retailer to acquire the German owner of MediaMarkt and Saturn.
CECONOMY announced on 3 November that the European Commission had cleared the proposed deal after a review under the EU Foreign Subsidies Regulation. The company said it expected the transaction to close in the coming days.
Agence Europe reported that the commitments run for ten years and will be monitored by an independent trustee. The case shows how the EU can attach conditions to an acquisition when it finds that foreign support could affect competition in its market.
