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BHG launches Private Equity Fund Objective is to raise up to R$ 400 million for greenfield projects

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September 10, 2012

BHG launches Private Equity Fund Objective is to raise up to R$ 400 million for greenfield projects

BHG S.A. – Brazil Hospitality Group announces the launch of a Private Equity Fund (FIP), which will be the Company?s priority vehicle for investments in greenfield projects. The operation complies with CVM Instruction 391/03 and is targeted at qualified investors, with the minimum subscription amount being one million reais (R$ 1,000,000.00).

Named BHG Modal Fundo de Investimento em Participa??es em Hotelaria, the FIP will add speed and investment volume to the successful nationwide expansion strategy outlined by BHG for the hospitality sector. “We are starting with R$ 150 million, but the operation aims to raise up to R$ 400 million for investments in the development of greenfield hotels, one of the key growth drivers for BHG in the coming years”, said Pieter J. F. van Voorst Vader, CEO of BHG S.A – Brazil Hospitality Group.

Construction of greenfield hotels started in 2010, when BHG announced an intensive program for the development of economic projects, called ?selected services?, which envisages the construction, over the next five years, of over 4,500 rooms in 40 cities with strong demand and growth potential for business tourism. So far, the Company has announced 10 greenfield projects[1], which will add 1,772 rooms to the hotel chain by 2014.

The Fund, registered with the Securities and Exchange Commission of Brazil (CVM) and inscribed in the corporate taxpayers register (CNPJ) under no. 14.067.624/0001-30, was distributed by Banco Modal S.A., will be administered by Intrag DTVM, managed by Modal Administradora de Recursos LTDA, and will have an Investment Period of 5 years, with a total period of 10 years. The model adopted will involve an initial subscription of the shares by investors and payment thereof in accordance with successive capital calls as investments are approved by the Investments Committee, whose members will be nominated by the investors.

Besides holding a stake of up to 40.67% initially in the fund (which should decrease to up 25% with the entry of new members in the fund), BHG will serve as the Specialist Consultant for the Fund for which it will be duly remunerated. The Company will prospect, structure and indicate potential hotel projects, besides holding exclusive rights to manage the projects. “BHG?s stake in the Fund demonstrates its full commitment to other investors”, adds Pieter.

Who we are:

BHG S.A. – Brazil Hospitality Group is one of the leading hotel companies in Brazil, with its own and managed hotels in the three-, four- and five-star categories. It is responsible for the Golden Tulip brand in South America.

BHG is a publicly-held company with shares traded on the Novo Mercado segment of the BM&FBovespa under the ticker BHGR3, and has a Level I ADR program for trading its shares on the over-the-counter (OTC) market in New York, USA, under the ticker BZHGY.

Media Relations

BHG S.A. – Brazil Hospitality Group

Fernanda Pannunzio

11.3577.2302 / 11.9668.7249

[1] Projects announced: Itagua? (RJ), Campos dos Goytacazes (RJ), Itabora? (RJ), Maring? (PR), Palmas (TO), Belo Horizonte (MG), Sete Lagoas (MG), Sobral (CE), Angra dos Reis (RJ), Campo Grande (MS).

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Source: Brazil Hospitality Group


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