August 27, 2014
Business has felt the impact of Canadian national security presenting a growing concern to the federal government in recent years, with multijurisdictional transactions attracting increasing scrutiny. Partner Dany Assaf was sought for comment on how the federal government is approaching high-profile deals with a national security element for an article for Bloomberg News.
Below is an excerpt of the article.
The government’s attention to national security has increased since the middle of last decade, when state-owned enterprises became more active in seeking acquisitions abroad, said Dany Assaf, co-chairman of the competition and foreign-investment group at legal firm Torys LLP in Toronto. He called the current process for national-security reviews “time consuming” and “opaque.”
Government officials appear to be keenly interested in transactions that affect telecommunications networks or resource assets such as pipelines, he said, adding that Burger King Worldwide Inc.’s C$12.5 billion purchase of Tim Hortons Inc. is unlikely to trigger a security review
To read the full article, click here.