Bahema S.A. (BOVESPA:BAHI3) entered into a share purchase agreement to acquire 95% stake in Escola Fórum Cultural from the shareholders for BRL 14.3 million on May 13, 2019. Bahema S.A. will pay for its participation, in installments for five years from the date of closing of the transaction. Bahema will have an option to purchase this remaining share as of 2021. The transaction is subject to the fulfillment of certain conditions precedent usual operations and will be completed as soon as such conditions are met. One of the conditions being, Bahema S.A. holding an extraordinary meeting until July 2019 to submit the transaction to the ratification of its shareholders.