• Canada Gives Green Light to CNOOC and Petronas Deals, But Red Light to Future SOE Takeovers in Oil Sands
  • December 14, 2012 | Author: Sandy Walker
  • Law Firm: Dentons Canada LLP - Toronto Office
  • On Friday, December 7th, the Canadian Government approved two controversial takeovers of Canadian companies under the Investment Canada Act, Canada‚Äôs foreign investment review legislation: the acquisition of oil and gas company Nexen by Chinese stateowned enterprise (SOE), CNOOC, and the acquisition of natural gas producer Progress Energy by Malaysian SOE, Petronas.