Canadian Government Adjusts Rules for Foreign InvestmentOn December 7, 2012, the Canadian Minister of Industry announced decisions under the Investment Canada Act (ICA) to allow acquisitions by two foreign state-owned enterprises (Ss): of Nexen Inc. by China National Offshore Oil Corporation (CNOOC) and of Progress Energy Resources Corp. by Malaysia's Petroliam Nasional Berhad (PETRONAS). Immediately following this announcement, the Prime Minister of Canada announced changes to how the government will review acquisitions by foreign Ss. View the full article by Don Greenfield and Beth Riley on the full Bennett Jones website. Please note that this publication presents an overview of notable legal trends and related updates. It is intended for informational purposes and not as a replacement for detailed legal advice. If you need guidance tailored to your specific circumstances, please contact one of the authors to explore how we can help you navigate your legal needs. For permission to republish this or any other publication, contact Amrita Kochhar at kochhara@bennettjones.com. |
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