Zhitong Financial APP News, E-House Enterprise Holdings (02048) issued an announcement about the sale and purchase agreement between E-House and the joint venture TM Home Limited (E-House agreed to sell its interests for sale (including Leju Holdings Ltd's interests and E-House's international interests) for a consideration of HK $2.559 billion) and a subscription agreement (E-House agreed to subscribe for 6.8548 million shares in the new joint venture at a consideration of HK $1.5 billion).
It is reported that the completion of the Sale and purchase Agreement and the completion of the subscription took place on November 24, 2021. After the completion of the sale and purchase agreement and the completion of the subscription, the joint venture is held by E-House and Alibaba Investment by approximately 70.23% and 29.77%, respectively. As a result, the joint venture becomes a non-wholly owned subsidiary of E-House and its financial results will be incorporated into E-House's accounts. E-house international interests and Leju Holdings Ltd interests (including interests for sale) continue to be held by e-house by 100% and 56.19% respectively. After the completion of the sale and purchase agreement and the completion of the subscription, E-House International and Leju Holdings Ltd remain subsidiaries of E-House.