India, July 30 -- CECONOMY AG announced that it has entered into an investment agreement with JINGDONG HOLDING GERMANY GmbH, a company indirectly controlled by JD.com. This move follows the Bidder's announcement of its intention to launch a voluntary public takeover offer for all outstanding shares in CECONOMY at a price of 4.60 euros per share.
CECONOMY's Management and Supervisory Boards have expressed preliminary support for the offer, although this is subject to review once the official offer document is published.
The proposed deal will need to clear several regulatory hurdles. These include approvals related to merger control and foreign investment rules, along with compliance under the EU Foreign Subsidies Regulation.
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