Just Energy to sell home services business for $505M

|About: Just Energy Group, Inc. (JE)|By:, SA News Editor

Just Energy (JE) agrees to sell its water heater and HVAC home services business to Reliance Comfort Limited Partnership for $505M.

As a condition of closing, JE agrees to repay all outstanding borrowings of the business ($273M at fiscal year end) and pay out the remainder interest in a royalty agreement.

JE +0.9% premarket.