Monday, AMTD Group (AMTD), AMTD IDEA Group, and The Generation Essentials Group (TGE) said TGE has agreed to purchase a 50 percent stake in The Ritz-Carlton, Perth from FEC Holdings and FEC Hotel for AU$100 million.
The deal, involving both shares and a loan assignment, strengthens TGE's global hospitality expansion across Australia, Hong Kong, Singapore, New York, London, and Malaysia.
The Ritz-Carlton, Perth the brand's 100th property features 205 luxury rooms on Elizabeth Quay.
AMTD is currently trading at $1.04, up $0.03 or 2.97 percent on the New York Stock Exchange.
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