CIBT, Inc. reached an agreement in the form of a term sheet to acquire Immigration business of Santa Fe Group A/S (CPSE:SFG) for €52 million on December 3, 2018. The consideration will be paid in cash. Post-acquisition, Santa Fe Relocation's employees will gradually transfer to CIBT's wholly owned immigration subsidiary, Newland Chase. The transaction remains subject to final agreement between the parties. Deal is expected to close during Q1 2019. CIBT, Inc. withdrawn the acquisition of Immigration business of Santa Fe Group A/S (CPSE:SFG) on February 23, 2019. Unexpectedly, it has not been possible to reach such final agreement, and deal will not be concluded. Consequently, the Immigration Business remains an integrated part of the Santa Fe suite of mobility products, and will continue to service corporate and consumer customers with visa and immigration services through our in-house practice.