July 23, 2018
Partner Dany Assaf has told CGTN America the fact that it’s harder to get foreign investment deals approved contributed to Canada blocking the Aecon takeover bid by Chinese firm China Communications Construction.
The billion dollar takeover offer was blocked by Ottawa in May with the government citing national security concerns.
CGTN America’s video news story explained how China’s ambassador to Canada “slammed the decision” in a newspaper opinion piece, saying “Chinese enterprises are suffering from unfair treatment.”
Dany disagreed with those sentiments although did admit countries that are not long-standing allies of Canada do face greater scrutiny.
“More specific and difficult questions are being asked in the context of 21st century realities— whether they’re security or technology related—of trying to figure it out precisely where would these security concerns arise today that may have gone unnoticed or been not assessed as a risk in the past.”
You can learn more about our Competition and Foreign Investment Review Practice by visiting the practice page.