Black Spade Capital II, a special purpose acquisition company (SPAC) linked to Lawrence Ho Yau-lung, chairman of Macau casino operator Melco Resorts & Entertainment, has successfully completed its merger with The Generation Essentials Group (TGE).
With this deal, Black Spade II will become a wholly owned subsidiary of TGE and is expected to be delisted from The Nasdaq Stock Market LLC.
This merger was confirmed following a shareholder vote on May 30th, 2025.
TGE, a joint venture established by AMTD Group, AMTD IDEA Group, and AMTD Digital Inc., will commence trading on the New York Stock Exchange and NYSE American under the ticker symbols “TGE” and “TGE WS,” respectively.
Headquartered in France, TGE focuses on global strategies and developments in multi-media, entertainment, and cultural affairs, as well as hospitality and VIP services.
It comprises entities such as L’Officiel, The Art Newspaper, and various movie and entertainment projects.
Black Spade II was founded by Black Spade Capital, which runs a global portfolio consisting of a wide spectrum of cross-border investments.
Black Spade II is Black Spade Capital’s second SPAC, with its first SPAC involving a business combination with VinFast Auto Ltd., a Vietnamese electric vehicle company, in August 2023. At the time, it was the third-largest ever de-SPAC by deal value.
On January 27th, 2025, Black Spade II entered into a business combination agreement with aWME and WME Merger Sub Limited, an exempted company incorporated with limited liability under the laws of the Cayman Islands and a direct wholly-owned subsidiary of aWME.
Following the agreement, Merger Sub will be absorbed into Black Spade II, which will continue as a wholly-owned subsidiary of aWME.
“This is about the successful listing of a comprehensive and diversified global media, entertainment, and hospitality play”, Dr. Feridun Hamdullahpur, Chairman of the Board of TGE, said after the merger.
Hamdullahpur highlighted TGE’s potential as a worldwide operator in various sectors, including media, entertainment, and hospitality. “We are now long-term partners with Black Spade, and there are numerous opportunities for cross-collaboration”.
Dennis Tam, Chairman and Co-CEO of Black Spade Acquisition II, also commented that the merger was a “significant milestone in bringing value for shareholders” and noted TGE’s alignment with Black Spade’s entertainment focus.
As a result of the merger, Black Spade II will become a wholly owned subsidiary of TGE and is expected to be delisted from The Nasdaq Stock Market LLC. The combined entity is poised to leverage its diverse portfolio to become a leader in the global media and entertainment landscape.
With this merger, TGE aims to create a unique platform that integrates fashion, art, media, movies, and hospitality under one roof, paving the way for a journey in the entertainment sector.
