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BHG concludes the acquisition of shares from LM Empreendimentos e Participacoes S.A.

BHG will took over the operation of the hotel on January 8, 2014, maintaining the name "Marina Palace" during the remodeling and improvement period to adjust it to the standards required by the Golden Tulip Hospitality Group.

SAO PAULO – BHG S.A. – Brazil Hospitality Group hereby announces the conclusion of the transaction to acquire 100% of the shares representing the capital stock of LM Empreendimentos e Participacoes S.A., owner of one of Brazil’s most iconic hotel developments, currently named Hotel Marina Palace, in Rio de Janeiro. The acquisition was concluded on January 7, 2014, ending the transaction started with the signature of the Memorandum of Understanding on October 16, 2013. Located in front of Leblon beach, one of the most exclusive and upscale regions in the country, hotel Marina Palace has 150 rooms with an ocean view, two renowned restaurants and a complete structure for hosting events.

BHG will took over the operation of the hotel on January 8, 2014, maintaining the name “Marina Palace” during the remodeling and improvement period to adjust it to the standards required by the Golden Tulip Hospitality Group. “We intend to invest R$15 million in improving the hotel, affording it an outstanding position in the national hotel industry”, declared the company’s CEO, Eduardo Bartolomeo.

At no point BHG’s management will interrupt the hotel operation nor affect the services provided to the guests.

With the operation, BHG will have five hotels in the city of Rio de Janeiro, with 1,300 rooms.

Photo caption: Hotel Marina Palace, in Rio de Janeiro.

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