UGC S.A. signed a memorandum of understanding to acquire the remaining 95% stake in CFI-Image from CFI-Compagnie Foncière Internationale (ENXTPA:CFI) on May 16, 2014. The memorandum of understanding was signed subject to certain conditions precedent; the external financings negotiated by UGC are put into place. The transaction was approved by the Board of Directors of CFI-Compagnie Foncière Internationale.

The transaction is expected to close at the end of June 2014.