AMTD IDEA Group and AMTD Digital Inc. jointly announced that their subsidiary, World Media and Entertainment Universal Inc. (WME), has entered into a business combination agreement with Black Spade Acquisition II Co (BSII). WME is a global media and entertainment company headquartered in Paris.
The business combination values WME at an equity value of approximately US$488 million, excluding cash from BSII's trust. Upon completion, the combined company will retain the name 'World Media and Entertainment Universal Inc.' and its ordinary shares will be listed on a U.S. stock exchange.
Existing shareholders of WME, including AMTD IDEA Group and AMTD Digital, are expected to hold more than 70% of the voting shares of the combined company. The transaction is anticipated to close in mid-2025, subject to regulatory and shareholder approvals, marking AMTD Group's third listed company.
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