Far East Consortium International (FEC) has entered into a sale and purchase agreement to divest half of its ownership in The Ritz-Carlton Perth for AU$100 million ($66 million), according to a December 8th filing to the Hong Kong Stock Exchange.
The transaction will transfer 50 percent of the hotel’s holding entities and corresponding shareholder loans to The Generation Essentials Group (TGE), a New York–listed company that forms part of the AMTD Group’s broader media, entertainment, and hospitality ecosystem.
Under the agreement, TGE will pay AU$100 million ($66 million) through staged installments. FEC has already received the initial AU$20 million ($13.2 million), with a second AU$40 million ($26.4 million) due no later than December 29th. The remaining AU$40 million ($26.4 million) will be settled through deferred payments scheduled across 2026 and 2027. Completion remains subject to several conditions, including regulatory approvals under Australia’s Foreign Acquisitions and Takeovers Act and the fulfillment of internal restructuring steps outlined in the agreement.
The deal follows FEC’s disclosure in early November that it was exploring a potential partial sale of the Ritz-Carlton Perth to the AMTD Group under a non-binding term sheet. That preliminary discussion contemplated a joint ownership arrangement between FEC and AMTD, though no definitive agreement was reached at the time. The new transaction formalizes AMTD’s involvement through TGE as the acquiring entity.
FEC said the valuation reflects the hotel’s prime location in Perth’s Elizabeth Quay precinct and aligns with the group’s strategy of unlocking value from its hotel portfolio, recycling capital, and reducing gearing.
Upon completion, the Target Group entities linked to the hotel will no longer be consolidated into FEC’s financial statements. The company expects to record a gain of approximately AU$32.5 million ($21.5 million) from the sale, with net proceeds designated for general working capital.
Opened in 2019, The Ritz-Carlton Perth is among FEC’s flagship luxury assets in Australia. The FEC group also maintains major tourism and hospitality investments in the region, including its stake in the Queen’s Wharf Brisbane integrated resort development.
