E-Home To Acquire 51% Equity Interests Of Sijie Cleaning For Undisclosed Sum

E-Home Household Service Holdings Ltd's EJH affiliated variable interest entity, Pingtan Comprehensive Experimental Area E Home Service Co., Ltd., has agreed to acquire 51% equity interests of Fuzhou Sijie Cleaning Service Co., Ltd. in cash. The financial terms were not disclosed.
Sijie Cleaning is an integrated and professional cleaning company that mainly provides cleaning services, environmental testing, formaldehyde treatment, and indoor and outdoor wall cleaning.
E-Home expects the acquisition to expand its household cleaning business to the public places cleaning market and improve cleaning business service capacities and scopes.
Sijie Cleaning owns a one-stop home cleaning training base and a home cleaning flagship store, providing leather care, dry cleaning, curtain cleaning, and other services.
E-Home Household held cash and cash equivalents of $43.52 million as of December 30, 2020.
Price Action: EJH shares are trading lower by 1.74% at $2.82 on the last check on Wednesday.