CANADA: Government to publish new guidelines on Canada foreign investment

Friday October 26 2012

Following the recent decision to reject an acquisition in Progress Energy Resources by Petronas, a Malaysian-owned firm, under the provisions of the Investment Canada Act, it is being reported that the Canadian government is drawing up new guidelines on Canada foreign investment.

The new guidelines will reportedly help provide more clarity about the “net benefit to Canada” test that applies to proposed Canada foreign takeovers of Canadian companies.

This information will be updated as further details become available.