AMTD IDEA Group Partners with Black Spade Acquisition II for Media Business Expansion

AMTD IDEA Group Enters Strategic Partnership with Black Spade Acquisition II Co.

AMTD IDEA Group and its subsidiary, AMTD Digital Inc., announce a significant business combination agreement involving their subsidiary, World Media and Entertainment Universal Inc. (WME), and Black Spade Acquisition II Co. This strategic alliance values WME at approximately US$488 million, excluding Black Spade’s cash in trust of about US$153 million, assuming no shareholders opt for redemption. The transaction is slated to close in mid-2025, contingent on regulatory and shareholder approvals. Following the deal, existing shareholders of WME, including AMTD IDEA Group and AMTD Digital, are expected to retain over 70% of the voting shares, signaling a strong commitment to the future of WME.

The partnership aims to leverage the strengths of both entities to create a robust platform within the media and entertainment sector. Dr. Feridun Hamdullahpur, Chairman of WME, highlights the shared vision and integrity between WME and Black Spade, setting the tone for a collaborative and forward-thinking approach. The combined entity will continue to operate under the name World Media and Entertainment Universal Inc. and will maintain its headquarters in Paris, a city known for its cultural significance and media innovation. This strategic move marks a pivotal moment for AMTD Group, establishing its third listed entity, complementing its existing ventures through AMTD IDEA Group and AMTD Digital Inc.

This transaction underscores AMTD Group's ambition to expand its footprint in the media space while reinforcing its status as a diversified conglomerate. With a portfolio that spans media, education, hospitality, and premium assets, AMTD is well-positioned to take advantage of the growing opportunities within the global entertainment landscape. The listing of WME’s ordinary shares on a U.S. stock exchange is anticipated to enhance visibility and attract further investment, aligning with AMTD IDEA Group's mission to provide digital solutions that connect businesses and investors globally.

In addition to this landmark agreement, AMTD IDEA Group continues to focus on delivering comprehensive services tailored to meet diverse client needs throughout various business lifecycle stages. The partnership with Black Spade Acquisition II Co. exemplifies the company's commitment to fostering innovation and growth in the ever-evolving media industry. The collaboration not only enhances WME's strategic position but also aligns with AMTD's long-term vision of creating sustainable value across its diversified portfolio.