Beverly Hills Group, Inc. (BHGI) Announces the Advancement of $1.4 Million to Grupo Richard BEVERLY HILLS, CA / ACCESSWIRE / August 12, 2016 / Beverly Hills Group Inc. (OTCPK: BHGI), Announces the advancement of $1.4 million to Grupo Richard.
Beverly Hills Group Inc. (BHGI) is pleased to announce the advancement of approximately $1.4 million dollars funded to date, from a third party to Grupo Richard-Operadora in preparation for the closing of the remaining acquisitions and assets.
The acquisition agreement is funded by a combination of cash and fully restricted equity shares of BHGI. The company will receive real estate which has been appraised by "Jaramillo y Asociados," to have a value of approximately $47 million dollars, with equity of approximately $45 million dollars.
The business operations and assets of the three remaining Grupo Richard companies identified in the first acquisition agreement are being acquired as well:
(1) Grupo Internacional Richard
(2) Grupo Richard y Lange
(3) Asesores en Comercio ON de Mexico
Our management views this is as just the beginning of our relationship with Grupo Richard. Our long-term vision is to expand the footprint of our newly-acquired companies within Mexico and Latin America under the BHGI umbrella.
Grupo Richard continues to diligently maintain and create beneficial relationships within Mexico, which in turn creates opportunities for further growth of BHGI. Lots of vacant land.
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