Cuba Business Development Group, Inc. signed a memorandum of understanding to acquire 51% stake in The Americas Group Cuba Business Enterprise from The Americas Group on January 31, 2013. Under the terms of the acquisition, Cuba Business Development will issue the shares of Fuego Enterprises as purchase consideration. Post acquisition, Hugo Cancio, Founder, Chairman and Chief Executive Officer of Fuego Enterprises and Cuba Business Development Group, Inc. will become Chairman and Chief Executive Officer of The Americas Group Cuba Business Enterprise.

Cuba Business Development Group, Inc. completed the acquisition of 51% stake in The Americas Group Cuba Business Enterprise from The Americas Group on March 21, 2013.