KE : Enters into Definitive Agreements to Acquire Kongjian Zhihui - Form 6-K
October 10, 2023 at 04:33 pm
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KE Holdings Inc. Enters into Definitive Agreements to Acquire Kongjian Zhihui
On October 10, 2023, KE Holdings Inc. (the "Company"), through one of its wholly-owned subsidiaries, has entered into definitive agreements with Kongjian Zhihui Decoration (Beijing) Co., Ltd. (together with its subsidiaries, "Kongjian Zhihui" or the "Target"), a company primarily engaged in home renovation business and all of its existing shareholders, pursuant to which the Company agreed to acquire the entire equity interests of the Target not currently beneficially owned by the Company (representing approximately 98.0805% of the total outstanding equity interests of the Target) from its existing shareholders (the "Acquisition"). In connection with the Acquisition, the Company will pay an aggregate cash consideration capped at approximately RMB1.55 billion to the selling shareholders, including H iKongjian Co., Limited, one of the Company's related parties, which holds approximately 7.1092% equity interest in Kongjian Zhihui. The Acquisition as a whole and the related party transaction with H iKongjian Co., Limited have been approved by the board of directors of the Company (the "Board") and the audit committee of the Board, respectively. The Acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first half of 2024. After the closing of the Acquisition, Kongjian Zhihui Decoration (Beijing) Co., Ltd. will become a wholly-owned subsidiary of the Company.
Founded in 2010, Kongjian Zhihui is a leading service provider of one-stop home renovation services through its ikongjian brand whose services cover 14 cities. As one of the pioneer in standardized home renovation services, Kongjian Zhihui has consistently upheld its mission of "let there be spaces for love, let there be love in space" and built up a great reputation and brand recognition among users. The Acquisition is expected to further diversify the Company's home renovation brand and product portfolio to address a broader range of consumer needs, improving customer conversion, while bolstering supply chain and delivery capabilities, thereby expediting the advancements in the Company's home renovation and furnishing services.
KE Holdings Inc. published this content on 10 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 October 2023 20:32:09 UTC.
KE Holdings Inc is a holding company mainly engaged in housing transactions and related services. The Company operates in four segments. The Existing Home Transaction Services segment mainly provides agency services to sales or leases of existing homes, and platform and franchise services to brokerage firms on Beike platform, as well as other transaction services. The New Home Transaction Services segment mainly provides new home transaction and agency services to real estate developers. The Home Renovation and Furnishing segment provides a one-stop solution to give housing customers access to a comprehensive range of home renovation and furnishing, ranging from interior design, renovation, re-modeling, furnishing, supplies, to after-sales maintenance and repair. The Emerging and Other Services segment is engaged in rental property management service business, financial service business and others.