Tag Archives: CNOCC

Government approves CNOOC-Nexen and Petronas-Progress takeover bids

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OTTAWA — Canada is open for business and foreign investment — but is not for sale — the Harper government declared Friday in approving CNOOC’s $15.1-billion takeover of Nexen, while warning that state-owned enterprise takeovers of oilsands companies will only be permitted on “an exceptional basis only.”

In announcing its approval of the CNOOC-Nexen transaction, the Conservative government introduced a series of grittier rules for acquisitions of Canadian companies by state-owned enterprises.

Read more:  http://tinyurl.com/bt5egg2  

New foreign investment rules will kick off further talks in Alberta: minister

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OTTAWA – A federal decision on the CNOOC-Nexen deal and new guidelines for foreign takeovers are only the beginning of a necessary policy conversation, says Alberta’s intergovernmental affairs minister.

First, Alberta wants to see more clarity and transparency in Ottawa’s next version of the foreign investment rules, Cal Dallas said in an interview on Wednesday.

Read more:  http://tinyurl.com/ajvfg6s