AMTD Digital’s TGE to acquire 50% stake in Ritz Carlton Perth, Australia

AMTD Group, AMTD IDEA Group (AMTD), and The Generation Essentials Group, a subsidiary of AMTD Digital (HKD), announce jointly that TGE has entered into the SPA with FEC Holdings and FEC Hotel, whereby the Vendors have agreed conditionally to sell, and the Purchaser has agreed conditionally to purchase a 50% stake in the Ritz Carlton Hotel in Perth Australia. The transaction will take place by way of acquisition of the Sale Shares and assignment of the Sale Loan, at an aggregate consideration of approximately $66.4M, subject to the terms and conditions of the SPA.