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Luc Besson’s financially struggling film company, EuropaCorp, has entered into exclusive negotiations with Gaumont to sell off Roissy Films’ library, which includes more than 500 titles.

If greenlit, the pact will allow Gaumont to take over the exploitation of films from the Roissy catalogue, which boasts more than 80 award-winning films. Best-known titles include Claude Zidi’s “The Under-Gifted” (“Les sous-doués”) and Jean-Jacques Annaud’s “Quest for Fire” (“La guerre du feu”).

EuropaCorp had acquired Roissy Films in 2008.

EuropaCorp said the deal with Gaumont “falls within the scope of the new strategy of the company consisting in focusing on its core business activities: the production and distribution of films and series around the world.”

The company will also be looking to sell about 30 films from Roissy Films to a third party.

Within the last 18 months, EuropaCorp has taken drastic steps to cut costs, including the sale of its French TV production unit for €11 million, and has announced that it would be laying off 22 employees in its Paris office within the next two years.

Besson’s next directorial effort, “Anna,” a thriller starring Helen Mirren, Cillian Murphy and Luke Evans, will be released in the U.S by Lionsgate. The last film he directed, the $180 million “Valerian and the City of a Thousand Planets,” grossed $225.8 million worldwide.

Besson has been hit with two rape allegations filed by Dutch-Belgian actress Sand Van Roy.