Paris – November 07, 2026 -- AMTD Digital transferred controlling interests in four hotel assets to The Generation Essentials Group (TGE) for an aggregate US$209,766,000, with TGE paying entirely in newly issued shares, according to a joint announcement by AMTD IDEA Group, AMTD Digital and TGE.
TGE issues 198,630,381 Class A shares to complete the transfer on November 2
AMTD Digital and TGE signed the Asset Transfer and Share Issuance Agreement on October 21, 2026. The transfer closed on November 2, 2026. The price also takes the assets' underlying debts into account.
TGE settled the full price with 198,630,381 new Class A ordinary shares issued to AMTD Digital. The share count was set using the 30-day volume-weighted average price of TGE stock on the New York Stock Exchange for the thirty trading days ending May 29, 2026.
Four hotels across New York, Perth, London and Kuala Lumpur move under TGE
The target assets are:
- 100% of the AMTD IDEA Tribeca Hotel
- A 50% equity interest, with veto power over hotel operations, in the Ritz-Carlton, Perth
- 100% of AMTD Dao By Dorsett Hornsey London
- 80% of Upper Regalia Kuala Lumpur
The deal consolidates the group's premium hospitality assets under TGE, which focuses on hospitality and VIP services alongside lifestyle and experience businesses.
AMTD IDEA Group's beneficial stake in TGE rises to 95.6%
The transaction followed an internal step. AMTD IDEA Group first transferred the assets to AMTD Digital, valuing them at US$209,766,000 and settling the same amount of indebtedness it owed AMTD Digital.
After closing, AMTD Digital holds 88.2% of TGE's issued share capital, representing 91.1% of voting power. AMTD IDEA Group, directly and through AMTD Digital, beneficially owns 95.6% of the share capital and 96.7% of the voting power.
L'Officiel opened its second coffee and bar venue in Macao in September
The announcement also cited the September 2026 opening of L'Officiel Coffee and Bar at City of Dreams in Macao SAR, the brand's second global location. The group targets 15 to 20 additional venues worldwide.