The business combination marks a significant milestone for TGE as it strengthens its global presence in media, entertainment, fashion, and hospitality. Following shareholder approval on May 30, 2025, Black Spade II became a wholly owned subsidiary of TGE, paving the way for an enhanced market position and future growth. Appleby has now successfully handled its second de-SPAC transaction for Black Spade, following the firm’s role in Black Spade’s 2023 business combination with VinFast.
The Appleby cross-jurisdictional team was led by David Bulley, Managing Partner of Hong Kong and Mainland China along with Alejandra Gonzalez Saucedo, lead senior associate. The team was supported by Hong Kong and Shanghai teams, including Partner Hannah Yao, Associate Ashley Chung, Mandy Qi and Legal Manager Stephanie Wang.
David Bulley commented: “It has been a pleasure working alongside the Black Spade team once again on another successful de-SPAC transaction. Appleby remains committed to delivering trusted legal counsel for complex cross-border transactions, ensuring efficient execution and strategic value creation.”