GP Investments : Notice to the Market - Signing of the Share Purchase Agreement between BHG and Accor
March 02, 2017 at 04:23 pm EST
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GP INVESTMENTS, LTD.
PUBLIC COMPANY HEADQUARTERED IN BERMUDA NOTICE TO MARKET
March, 2nd 2017. GP INVESTMENTS, LTD., headquartered at 129 Front Street,
Penthouse, Hamilton HM 12, Bermuda, whose Class A shares are negotiated at BM&FBOVESPA S.A. - Bolsa de Valores, Mercadorias e Futuros in the form of Brazilian Depositary Receipts - BDRs ("GP"), informs that, today:
GPCP4 I Fundo de Investimento em Participações and L.A. Fundo de Investimento em Participações, investment fund in which GP Capital Partners IV, L.P., a fund managed by GP, has an indirect participation (L.A. FIP and GPCP4-FIP jointly, sellers); its controlled company, BHG S.A. - Brazil Hospitality Group ("BHG"); and Hotelaria Accor Brasil S.A. ("Accor"), in the condition of buyer, executed a Share Purchase Agreement, that regulates, among other items, the acquisition by Accor of the totality of shares or quotas of a hotel management company that, at the date of closing of the transaction, will manage 26 hotels in several regions of Brazil, whose management is currently performed by BHG; BHG will retain the management of other 20 hotels under its own brands (Soft Inn, Solare and The Capital) and franchised brands (Royal Tulip, Golden Tulip and Tulip Inn), as well as the ownership of the all of the hotel real estate it currently owns;
The acquisition price to be paid by Accor is R$200.000.000,00 (two hundred million Brazilian Reais), subject to adjustments as determined in the Share Purchase Agreement;
The proceeds from this transaction will be fully reinvested in the renovation and repositioning of BHG's owned hotels. BHG will therefore reinforce its position as the largest owner of hotel real estate in Brazil;
Closing of the transaction is subject to certain precedent conditions, including approval by Brazilian antitrust authorities.
GP will maintain the market and its shareholders informed about any updates regarding the matters hereof.
São Paulo, March 2nd, 2017
Alvaro Lopes da Silva Neto
Chief Financial and Investor Relations Officer
GP Investments Ltd. published this content on 02 March 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 02 March 2017 21:23:03 UTC.
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GP Investments, Ltd. is a Bermuda-based private equity and alternative investment company. The Companyâs operations comprise private equity, real estate and direct investment activities, including the management of limited partnerships. Its segments include private equity and real estate. In the private equity business, it invests to acquire control or joint control with the original owners with the objective of lead the invested company. In real estate business, it invests primarily at the asset level, directly in projects in the residential, office and retail segments. Its investment portfolio includes Spice Private Equity Ltd., Grupo SBF, BR Properties, and 2TM Group. It invests in approximately 15 sectors, such as industry, health services, mobile resource management, retail, logistics, real estate/shopping malls, Internet and technology, hotel, telecommunication, utilities, education, entertainment/restaurants, consumer goods, human resources (HR) services, and oil and gas.