WI Peace in 1797

In 1797, the UK proposed a peace to France, due to the fear that the Spithead and Nore mutiny could spread. The Directory refused this peace offer.

What if the Directory accept ?
 
France get back all of her colonies. IOTL, the Directorate wanted the Dutch colonies (Cape and Ceylan) to be given back, but the british refused. Wer can consider the two possibilities, a) the british agree to give them back (difficult i think), b) the directorate don't care about those colonies.
 
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