CGI AND TELEGLOBE COMPLETE THEIR DUE DILIGENCE
The CGI Group and Teleglobe announced today the completion to the satisfaction of both parties of their due diligence as part of CGI's acquisition of Teleglobe's Insurance Systems group. The due diligence process follows the signing of a letter of intent, on August 8, 1997, for the acquisition by CGI of Teleglobe's Insurance Systems.
CGI and Teleglobe also announced that the closing of the transaction will take place during the month of October 1997, rather than on September 30, 1997. This change results from the delays, longer than expected, incurred while securing the required regulatory approvals.
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Executive Vice-President, Corporate Affairs