UGC S.A. offered to acquire 55% stake in SCI Bordeaux-Image from CFI-Compagnie Foncière Internationale (ENXTPA:CFI) for €2.7 million in cash on September 3, 2014. The offer was accepted by the Board of Directors of CFI at its meeting on September 5, 2014. The offer remains subject to a condition precedent of the Bordeaux municipal authority not exercising its preemptive right within the maximum two-month period.

The transaction is expected to be completed in early November 2014.