2014

Grupo Posadas, S.A.B. de C.V. Announces the Results of Its Tender Offer for Its Outstanding 8-3/4% Senior Notes Due 2011

    MEXICO CITY, April 14 /PRNewswire/ -- Grupo Posadas, S.A.B. de C.V.
 (BMV: POSADAS), a variable capital corporation (sociedad anonima bursatil
 de capital variable) organized under the laws of the United Mexican States
 (the "Company"), announced today the results of its offer to purchase for
 cash (the "Tender Offer") any and all of its outstanding 8-3/4% Senior
 Notes due 2011 (CUSIP Nos. 400489AD2, 400489AB6, P4983GAH3 and P4983GAJ9))
 (the "Notes") and the solicitation of consents (the "Consent Solicitation")
 from the holders of the Notes, upon the terms and subject to the conditions
 set forth in the Offer to Purchase and Consent Solicitation Statement dated
 March 17, 2008 (the "Offer to Purchase") and in the related Consent and
 Letter of Transmittal (the "Letter of Transmittal" and together with the
 Offer to Purchase, the "Offer Documents"). The Tender Offer and Consent
 Solicitation expired at 12:00 midnight, New York City time, on Friday,
 April 11, 2008 (the "Expiration Date").
 
     The Company has been advised by the tender agent and information agent
 that, as of the Expiration Date, of the US$225,000,000 in aggregate
 principal amount of Notes outstanding, US$189,217,000, or approximately
 84.1%, had been validly tendered and not validly withdrawn pursuant to the
 Tender Offer. The Company has accepted for purchase all Notes validly
 tendered and not validly withdrawn pursuant to the Tender Offer.
 
     On the Settlement Date, which is expected to be Wednesday, April 16,
 2008, the Company will cause registered holders of the Notes ("Holders")
 who validly tendered and did not validly withdraw their Notes prior to or
 at 5:00 p.m., New York City time, on Friday, March 28, 2008 (the "Consent
 Date") to receive the total consideration (the "Total Consideration") of
 US$1,050 per US$1,000 principal amount of such Notes, plus accrued and
 unpaid interest from the last interest payment date preceding the Tender
 Offer to, but not including, the Settlement Date for such Notes. The Total
 Consideration includes a consent payment of US$15.00 per US$1,000 principal
 amount of such Notes (the "Consent Payment"). The Total Consideration minus
 the Consent Payment is referred to as the "Offer Price." On the Settlement
 Date, the Company will cause Holders who validly tendered and did not
 validly withdraw their Notes after 5:00 p.m., New York City time, on the
 Consent Date and prior to 12:00 midnight, New York City time, on the
 Expiration Date to receive the Offer Price, which does not include the
 Consent Payment, plus accrued and unpaid interest from the last interest
 payment date preceding the Tender Offer to, but not including, the
 Settlement Date for such Notes.
 
     As a result of the Company's acceptance of the tendered Notes, the
 supplemental indenture implementing the proposed amendments to the
 indenture dated as of October 4, 2004 under which the Notes were issued, as
 described in the Offer to Purchase, will become effective as of the
 Settlement Date.
 
     The Company has engaged Credit Suisse Securities (USA) LLC to act as
 the Dealer Manager and Solicitation Agent in connection with the Tender
 Offer and Consent Solicitation, and D.F. King & Co., Inc. to act as the
 tender agent and information agent for the Tender Offer and Consent
 Solicitation.
 
     The Notes have not been registered under the U.S. Securities Act of
 1933, as amended, and may not be offered or sold in the United States
 absent registration or an applicable exemption from the registration
 requirements. This press release is for informational purposes only and is
 neither an offer to purchase nor a solicitation of an offer to sell the
 Notes. The Tender Offer is only being made pursuant to the Offer to
 Purchase and the related Letter of Transmittal. The Tender Offer is not
 being made to holders of Notes in any jurisdiction in which the making or
 acceptance thereof would not be in compliance with the laws of such
 jurisdiction. The Tender Offer is not being made to any holders of Notes in
 the United Kingdom. The Tender Offer is being made only to specified
 eligible holders of Notes, as set forth in the Offer to Purchase.
 Restrictions on the Tender Offer may also apply in other jurisdictions. The
 Tender Offer and Consent Solicitation is not being made to, and tenders of
 Notes and Consents by Holders will not be accepted from, any person in any
 jurisdiction that requires that the Tender Offer or the Solicitation or the
 distribution of the Offer Documents be made by a licensed broker or dealer.
 
     About the Company
 
     Grupo Posadas, specializing for over 37 years in providing high-quality
 hotel services aimed at covering the specific needs of its hotel customers,
 currently operates 102 hotels and approximately 18,800 rooms in some of the
 most important and most highly visited urban and coastal destinations in
 Mexico, the United States and South America. Grupo Posadas operates under
 its Aqua, Fiesta Americana Grand, Fiesta Americana, Fiesta Americana
 Vacation Club, Fiesta Inn, One Hotel, Caesar Park, Caesar Business and The
 Explorean brands.
 
     Grupo Posadas' shares have been quoted and traded on the Mexican Stock
 Exchange since 1992 under the ticker symbols "POSADASA" and "POSADASL." In
 addition, Grupo Posadas' Series A and Series L shares are quoted and traded
 in the U.S. PORTAL market under the ticker symbols "GRPALP" and "GRPYP,"
 respectively. For additional information, visit its website at
 www.posadas.com.
 
     Forward-Looking Statements
 
     This press release contains statements about future events that are
 subject to different risks and uncertainties; it is important to note that
 past results do not assure or guarantee the behavior of future results.
 There are a significant number of factors that may cause real results to
 materially differ from plans, objectives, expectations, estimations and
 intentions expressed, such as declarations about future events. Grupo
 Posadas, S.A.B. de C.V. does not assume any obligation to update any of the
 declarations as a result of new information, future actions or other
 related events.
 
 
 

SOURCE Grupo Posadas, S.A.B. de C.V.

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