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BHG S.A. – Brazil Hospitality Group hereby announces the completion of negotiations for the acquisition of the new hotels in Belem, the capital of the state of Para, and the beginning of preparation of corporate documents required to complete the acquisition.
The operation in question, which began on August 25, 2011, involves the acquisition of significant interest in two currently operating hotels, in addition to the acquisition of substantial interest in two hotels that are nearing completion of construction and another hotel to be managed as of 2014.
The acquisition of interest in these hotels will be concluded through a corporate operation, where BHG will merge the shares of the company that holds interest in these properties and, in return, the current shareholders of said company, that have already received 45.5% of the stipulated price in cash, shall receive the remaining 54.5% in BHG shares, at a price of twenty-three reais (R$23.00) per share, a price previously established in agreements between the two parties.
The corporate documents related to this operation will be prepared and published, as well as submitted for approval by the Company’s shareholders within the next 60 days, in accordance with applicable regulation. A new Material Fact regarding the operation will be published by the Company in due time.
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