The Ontario Superior Court of Justice on Wendesday issued the final order in respect of the proposed sale of Loring Ward International Ltd. to Werba Reinhard Holdings Ltd., a subsidiary of Werba Reinhard, Inc.

As announced earlier this week, at a special meeting held on Jan. 5, shareholders approved the transaction which will result in shareholders receiving US$11.25 per share in cash payable in U.S. dollars in exchange for each Loring Ward common share held.

The deal remains subject to other regulatory approvals and other specific closing conditions, and is currently expected to close on Jan. 30.

Loring Ward was previously known as Assante USA prior to the sale of Assante Corp. to CI Fund Management in August 2003 for $846 million.

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