AMTD Group Inc. (“AMTD Group”), alongside with AMTD IDEA Group
(NYSE: AMTD; SGX: HKB) (“AMTD IDEA”) and AMTD Digital Inc. (NYSE:
HKD) (“AMTD Digital”), together as “AMTD”, announced that an
agreement to acquire The Art Newspaper globally was executed.
Closing will be subject to customary conditions.
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AMTD announced this acquisition as part of the commitment to
step up its overall presence in France, including a plan to move
the headquarters of The Art Newspaper to Paris. As part of AMTD’s
overall initiatives and strategic roadmap, Dr Andrew Stephen Yuen
Wei-man, (Chevalier dans l'Ordre de la Légion d'honneur, Chairman
emeritus of the Le French May cultural festival, government
appointed board member of the Hong Kong Palace Museum, co-Chairman
of the Hong Kong Cancer Fund and Vice-President of the Society of
the Academy for Performing Arts), has been appointed to the board
of directors of AMTD Digital Media and Entertainment Group, a
subsidiary of AMTD Digital, to support and guide AMTD’s ongoing
work and contributions to promote French culture and its linkage
with Hong Kong and across Asia.
Dr Andrew Yuen commented, “It’s my honour and pleasure to serve
on the board of AMTD Digital Media and Entertainment Group
alongside our chairman with whom we share the same vision of
promoting cross cultural exchanges between France and Asia.”
The deal was inked a year after the integration of L'Officiel’s
global media business into AMTD. Dr Calvin Choi (Chevalier dans
l’ordre des Arts et des Lettres), AMTD Group’s Chairman, as well as
Dr Andrew Yuen were invited by the French government to attend the
Choose France Summit in Versailles in person. L'Officiel, a
102-year-old French publication, currently reaching over 100
million users worldwide, represents one of the oldest fashion media
of the world. With its distinct French voice, L'Officiel stands for
elegance and sophistication across the world and it has long been
regarded as one of the world’s bibles of fashion. AMTD has chosen
France to establish its international headquarters for AMTD Digital
Media and Entertainment Group, recognizing France as a global
country in the heart of Europe.
The Art Newspaper, an online and print publication that covers
the international art world, was founded in 1990 by Umberto
Allemandi and Anna Somers Cocks on the original concept of Il
Giornale dell'Arte, founded 1983. The Art Newspaper International
Edition has offices in London and New York. Its unrivalled news and
events coverage is fed by a network of sister editions, which
together have more than 50 correspondents working in more than 30
countries, with editorial offices in Paris, Moscow and Shanghai. In
2014, Inna Bazhenova became the owner of The Art Newspaper
International Edition and the licensed network in China, Greece,
France and Russia.
The Art Newspaper has enjoyed its global reputation as the
journal of record for the art world, and the leading voice of the
art industry.
The Art Newspaper’s international network includes:
The Art Newspaper International Edition, London and New York;
founded in 1992; The Art Newspaper Russia, Moscow, founded in 2012;
The Art Newspaper China, Shanghai, founded in 2013; The Art
Newspaper France, Paris, founded in 2018. The latest addition to
the network are The Art Newspaper Israel, founded in 2019 and The
Art Newspaper Turkey, founded in 2023. Il Giornale dell'Arte
continues to be a partner of The Art Newspaper.
In addition to a 100-plus-page monthly print edition, The Art
Newspaper provides a daily online news service, as well as a daily
newsletter and weekly podcast. It also produces special daily
editions at the Art Basel fairs in Basel, Miami Beach and Hong Kong
and at the Frieze fairs in London, Los Angeles and New York, to
name a few. The Art Newspaper is also known for its in-depth
reports on annual museum attendance figures and the year's
forthcoming exhibitions compiled in The Year Ahead magazine.
Dr. Calvin Choi, Chairman of AMTD Group and L’Officiel,
commented, “At AMTD, we aim to build and continuously expand our
multi-media presence and establish our leading media brands and
publication services in selected areas and spaces, including
fashion and design, art and history, entertainment and culture etc.
We embrace digital transformation to create our global voice to
empower and enable positive impact and innovation of the modern
world, building on the foundation of human history and heritage of
civilisation.”
AMTD IDEA Group’s Chairman Dr. Feridun Hamdullahpur commented,
“Such a strategic acquisition connected to art and culture is
another important milestone by AMTD resulting in the buyout of the
world renowned The Art Newspaper. This acquisition further
establishes AMTD’s solid global leadership in the art, culture,
and, naturally, fashion circles. I am particularly pleased with the
decision of moving the headquarters of the magazine to Paris to
join the headquarters of L’Officiel. This is a critical and
strategic step as AMTD confidently forges ahead deepening its
impact in the investment, Art and culture, and fashion world. On
behalf of the Board of Directors, I extend my congratulations to
the Executive Team, and welcome Andrew Yuen to the AMTD
Family.”
About AMTD Group
AMTD Group is a conglomerate with core business portfolio to
span across financial services, digital solutions, media and
entertainment, education and training, and premium real estate
assets.
About AMTD IDEA Group
AMTD IDEA Group, formerly known as AMTD International Inc.
(NYSE: AMTD; SGX: HKB) represents a premier Asia financial
institution and digital solutions group connecting companies and
investors from Asia, including China and Hong Kong as well as the
ASEAN markets with global capital markets. Its comprehensive
one-stop financial services plus digital solutions platform
addresses different clients’ diverse and inter-connected financial
needs and digital requirements across all phases of their life
cycles. Leveraging its deep roots in Asia and its unique eco-system
— the "AMTD SpiderNet" — AMTD IDEA Group is uniquely positioned as
an active superconnector between clients, business partners,
investee companies, and investors, connecting the East and the
West. For more information, please visit www.amtdinc.com or follow
us on Twitter at @AMTDGroup.
About AMTD Digital Inc.
AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital
solutions platform in Asia. Its one-stop digital solutions platform
operates four main business lines including digital financial
services, SpiderNet ecosystem solutions, digital media, content and
marketing, as well as digital investments. It is the fusion reactor
at the core of the AMTD SpiderNet ecosystem and empowers and
integrates the various digital businesses within its ecosystem. For
AMTD Digital’s announcements, please visit
https://ir.amtdigital.net/investor-news.
About Art Newspaper
The Art Newspaper, founded in 1990 is an online and print
publication that covers the international art world. The Art
Newspaper Group headquarters is currently in London. Its unrivalled
news and events coverage is fed by a network of sister editions,
which together have more than 50 correspondents working in more
than 30 countries, with editorial offices in Paris, Moscow and
Shanghai.
The Art Newspaper has enjoys a global reputation as the journal
of record for the art world, and the leading voice of the art
industry.
The Art Newspaper’s international network includes:
The Art Newspaper International Edition, London and New York;
founded in 1992; The Art Newspaper Russia, Moscow, founded in 2012;
The Art Newspaper China, Shanghai, founded in 2013; The Art
Newspaper France, Paris, founded in 2018. The latest addition to
the network is The Art Newspaper Israel founded in 2019 and The Art
Newspaper Turkey founded in 2023. The Italian Il Giornale dell'Arte
is also a partner of The Art Newspaper network.
Safe Harbor Statement
This press release contains statements that may constitute
“forward-looking” statements pursuant to the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to,”
and similar statements. Statements that are not historical facts,
including statements about the beliefs, plans, and expectations of
AMTD IDEA Group and AMTD Digital Inc., are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. Further information regarding these and other risks
is included in the filings of AMTD IDEA Group and AMTD Digital Inc.
with the SEC. All information provided in this press release is as
of the date of this press release, and AMTD IDEA Group and AMTD
Digital Inc. do not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
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For AMTD IDEA Group: IR Office AMTD IDEA Group EMAIL:
ir@amtdinc.com
For AMTD Digital Inc.: IR Office AMTD Digital Inc. EMAIL:
ir@amtdigital.com
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