parent – SamaGamer

The rumors about a possible investment by the Chinese e-commerce giant in the European electronics retailer are increasing and are heating up the trading floor.

As soon as the Manager Magazin report was published, Ceconomy’s share price went crazy: the stock of the German electronics retailer, which includes the Mediamarkt and Saturn chains, shot up by almost 16 percent (on November 15, 2023). Background: The Chinese e-commerce giant JD.com reportedly wants to join Ceconomy.

The timing seems good: Well-informed sources have been saying for a while that the investment company Haniel is considering selling its shares in Ceconomy; Haniel currently holds 16.7 percent of the company. The discussions with JD.com have at least progressed to the point where Deutsche Bank is on board as an advisor, reports Manager Magazin.

Complicated ownership relationships

Friendly, interested discussions are just the beginning of every takeover, and this is especially true in the Ceconomy case – because the company’s ownership structure is complicated. Haniel holds the aforementioned 16.7 percent, but there are also the existing shareholders from the trading dynasties Beisheim (4.8 percent) and Schmidt-Ruthebeck/Meridian-Stiftung (11.1 percent).

Together with Haniel, they hold almost a third of Ceconomy. That’s why, according to the report, JD.com is also in discussions about the shares of Beisheim and Schmidt-Ruthebeck. Another 29 percent of the company belongs to Mediamarkt co-founder Erich Kellerhals, 6.7 percent is owned by Freenet, the rest are scattered shares.

The mobile phone provider Freenet is so far the only major shareholder to comment on the rumors about JD.com, but has nothing helpful to contribute: “JD.Com has not asked us about our share,” said a Freenet spokeswoman on Wednesday. From all other shareholders: no comment.

The fact is: If a shareholder reaches the threshold of 30 percent, he is obliged to make a mandatory offer to all other shareholders. If JD.com actually buys the shares of Haniel, Beisheim and Schmidt-Ruthebeck, a full takeover of Ceconomy is a very real option.

Chinese on a shopping spree in European e-commerce

JD.com’s interest is hardly surprising. After all, the Chinese giant has to keep up with its eternal rival Alibaba.com. He is currently investing in one European platform after another. The Turkish marketplace Trendyol and the Spanish platform Miravia are already in Alibaba hands. And yesterday the majority takeover of the B2B platforms wer-liefert-was and Europages by Alibaba was announced. Chinese e-commerce is on a shopping spree in Europe. It remains to be seen who will end up in the shopping cart next.

European Imaging Group, parent of Calumet Photographic, is acquiring a majority stake in Vocas, omnichannel retailer of professional video equipment in the Benelux. The merger creates a significant player in the photo and video sector.

The European Imaging Group (EIG), parent company of the German photo retailer Calumet Photographic, has acquired a majority stake in Vocas. Behind it is what it claims to be the leading omnichannel retailer for professional video equipment in the Benelux countries. Vocas’ owners and managers remain on board as minority shareholders.

The transaction is intended to strengthen EIG’s offering in the video sector and give Vocas the opportunity to grow through EIG’s pan-European dealer network. In addition to Calumet from Germany, the EIG portfolio also includes Wex Photo Video from the UK, CameraNU.nl from the Benelux countries and Cyfrowe.pl from Poland.

The transaction is expected to close in the fourth quarter of 2023.

Next stage of growth

“Working with EIG provides the entire Vocas team with a unique opportunity to accelerate the next phase of growth. I look forward to continuing to play an active role in this journey,” says Erik Gils, CEO of Vocas. “As we grow, we remain true to our promise of providing the highest standards of service and the best customer experience in everything we do.”

Vocas was founded in 1989 in Hilversum, the Netherlands. Since 2011, Vocas has been owned by Erik Gils, Andre Kan and Vincent Blok. During this time, Vocas says it has become the market leader for professional video solutions in the film and broadcast market in the Benelux and a well-known player across Europe. As a full-service provider, Vocas offers on-site repair services as well as its own range of accessory products that are marketed worldwide. Just four months ago, Vocas expanded its offering by acquiring and integrating Fofic, a Dutch video editing solutions provider.

“I look forward to welcoming Vocas to the EIG family and working with management on the next phase of development. Vocas is the leading professional video player in the Benelux and we are excited about the opportunities that lie ahead for Vocas and the other EIG companies through the shared know-how, network and reputation in their respective areas. Video is and remains a strong growth engine for EIG, and Vocas will further accelerate this growth in all regions,” says Richard Glatzel, Group CEO of European Imaging Group.