(Yicai) Dec. 24 -- Ke Holdings said today the leading Chinese real estate agent has decided to terminate the agreement to fully acquire Space Wisdom Decoration Beijing after carefully considering the uncertainty of reaching delivery conditions and other factors.

After discussing and agreeing with all parties yesterday, Ke decided to terminate the acquisition of the remaining 98 percent it does not own of Space Wisdom via its subsidiary Beike Meijia in accordance with the deal's terms, the Beijing-based parent firm announced. No consideration had been or needed to be paid, it added.

The termination was fair and reasonable and in the interest of Ke and its shareholders without affecting the firm's business or financial situation, according to the board of directors.

Ke first announced the acquisition of Space Wisdom on Oct. 11 last year, with Beike Meijia penning a deal to buy a 98 percent stake for about CNY1.6 billion (USD219 million). After completing the transaction, Space Wisdom was to become a subsidiary of Beike Meijia, which already owned the other 2 percent.

Established in 2010, Beijing-based Space Wisdom provides one-stop home improvement services, with its iKongJian brand covering 14 cities.

Shares of KE [HKG: 2423] ended 1.2 percent higher at HKD47.90 (USD6.17) each as the Hong Kong market closed during the lunch break today. Its New York-listed stock [NYSE: BEKE] climbed 0.2 percent to USD18.41 yesterday.

Editor: Martin Kadiev