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Canada Approves 2 Significant SOE Bids but Signals Tougher Measures for Reviewing Future Investments by Foreign SOEs

December-8-2012

Lawyer Michael Koch
Area Corporate Finance and Securities, Mergers and Acquisitions, Competition, Antitrust and Foreign Investment

Summary

On Friday, December 07, 2012, the Government of Canada issued its long-awaited decisions under the Investment Canada Act (“ICA”) of the takeover of Canadian oil and gas giant Nexen Inc., by CNOOC Limited, a state-owned enterprise (“SOE”) of the People’s Republic of China, and of Progress Energy Resources by Petronas International Corporation Ltd., a Malaysian SOE.

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