Loring Ward International Ltd. has successfully successful completion the sale of the company to Werba Reinhard Inc., the company announced Friday.

Through the previously announced plan of arrangement, Werba Reinhard Holdings Ltd., a subsidiary of Werba Reinhard Inc., acquired all of the outstanding shares of the Loring Ward for a cash purchase price of U.S.$11.25 per common share.

“We would like to take this opportunity to thank WRI for their efforts and cooperation in bringing this transaction to a close, and we thank our shareholders, directors, management, employees, advisors, clients and other stakeholders for their patience and support throughout this process,” said Robert Herrmann, the pesident & CEO of Loring Ward, in a release.

Loring Ward’s common shares are expected to cease to be listed for trading on the Toronto Stock Exchange on close of business on Jan. 28.

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.

IE