On December 24th, Beijing News Beike Finance News announced that on December 23rd, 2024, after careful consideration of uncertain factors such as the delivery conditions, and after discussion and agreement among all parties involved, the company terminated the equity acquisition agreement with Space Intelligence and all existing shareholders (excluding Beike Meijia itself) through Beike Meijia in accordance with the terms of the relevant equity acquisition agreement. Therefore, it is suggested that the acquisition will not proceed and has been terminated.
As early as October 11, 2023, Beike announced that Beike Meijia, a wholly-owned subsidiary of Beike Holdings Limited, had signed an equity acquisition agreement with Space Intelligence and Red Love Space. According to the agreement, Beike Meijia agreed to purchase 7.1092% equity of Space Intelligence, while Red Love Space agreed to sell it for a cash consideration of $12.67 million. In addition, Beike aims to acquire 98.0805% equity of Space Intelligence, which was not actually owned by the company at the time, and Red Love Space is one of the existing shareholders of Space Intelligence. At the same time as entering into the equity acquisition agreement, Beike Meijia has also entered into an equity acquisition agreement with Space Intelligence and all other existing shareholders to acquire their equity in Space Intelligence. After the acquisition is completed, Space Intelligence will become a wholly-owned subsidiary of Beike.
Public information shows that Space Intelligence was founded in 2010 and is a one-stop home decoration service provider, with Love Space as its subsidiary brand.
Beike stated that as of December 24, 2024, the company has not paid or paid any consideration for the proposed acquisition.