Hong Kong-based financial conglomerate AMTD International has entered an acquisition deal for nearly full ownership of AMTD Digital.
AMTD International will acquire a majority holding in AMTD Digital, according to a statement, in a deal valued at $1.2 billion.
AMTD Digital is currently a subsidiary of AMTD International and will hold 97.1 percent of its own shares upon completion of the deal.
Enter The Metaverse
The deal is part of broader plans by AMTD International to diversify its business and make its entrance into the Metaverse, the trending concept of an interactive, virtual reality space.
Last week, it also acquired L’Officiel Inc. – the holding company for 100-year old French magazine L’Official – alongside a network of fashion and luxury media brands.
«With the acquisition, AMTD International’ will encompass a comprehensive suite of financial services infrastructure and licences; a one-stop digital solutions’ platform; […] and digital ecosystems comprising of an extensive network of ecosystem members and alliance partners,» AMTD International said in the statement.
