Compagnie Industrielle et Financière d'Entreprises SA (ENXTPA:INFE) (“CIFE”) entered into private deed to acquire Alfred de Musset SAS (“SASAM”) for €35.5 million on November 20, 2020. In consideration, CIFE would issue 305 CIFE shares for 1 SASAM share. On the date of completion of the planned merger, in accordance with the applicable exchange parity, 724,375 existing CIFE shares will be allocated to SASAM shareholders. As of December 31, 2019, the amount of the net assets contributed by SASAM to CIFE would amount to €10.37 million. The transaction is subject to the submission by the merger auditor of a report on the terms of the merger confirming the fairness of the exchange ratio retained, approval of the planned merger by the extraordinary general meeting of SASAM shareholders and of the resulting dissolution of SASAM, approval by the extraordinary general meeting of CIFE shareholders of the principle of the planned merger and the granting of a delegation of authority to the Board of Directors of CIFE, the effect of completing the planned merger, the effect of completing the planned merger, the entry into force of a consumer loan of CIFE shares granted by SASAM for the benefit of CIFE relating to all of the CIFE shares held by SASAM (the "Loan "), And their effective transfer within the framework of the Loan, and (v) the decision of the board of directors of CIFE, acting on delegation of authority from the general meeting of CIFE shareholders in application of article L. 236 -9, II of Commercial Code.