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TORONTO, Nov 5 (Reuters) - Regulatory scrutiny of foreign takeovers of Canadian companies would ease once the Trans-Pacific Partnership trade deal takes effect, according to terms of the deal released on Thursday. Those details showed investments of less than C$1.5 billion ($1.14 billion) in Canadian businesses would not be subject to a review under the Investment Canada Act if the investing company is based in one of the 12 original signatory countries that are part of the trade deal. Currently any deal over the C$600 million mark is subject to a review by the Canadian government. That review threshold is set to rise gradually to C$1 billion by 2019. The TPP is set to reduce tariffs and trade barriers among the United States, Canada, Mexico, Chile, Australia, New Zealand, Japan and five other countries. It does, however, place some limitations on the types and specific areas of investment. The deal states that the higher threshold would not apply in the case of a direct acquisition of control by a state-owned entity in a Canadian business. Any such deal would trigger a review if it is worth more than C$369 million. The higher review thresholds also will not apply to acquisitions of cultural businesses, such as publishers, audio and video production companies. The document also indicates that the Canadian government has the right to cap foreign ownership in certain companies, namely the country's largest airline Air Canada, uranium miner Cameco Ltd and a few others. ($1 = 1.3164 Canadian dollars) (Reporting by Euan Rocha; Editing by Lisa Von Ahn)
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Cameco Corporation
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PRODUCER |
CODE : CCO.TO |
ISIN : CA13321L1085 |
CUSIP : 13321L108 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Cameco is a uranium producing company based in Canada. Cameco produces uranium, cobalt, copper, nickel and zinc in Canada, in Finland and in Kazakhstan, develops uranium in Australia and in Canada, and holds various exploration projects in Canada. Its main assets in production are RABBIT LAKE, KEY LAKE, SMITH RANCH, CROW BUTTE, MCARTHUR RIVER (SASKATCHEWAN), MC ARTHUR RIVER and MCARTHUR RIVER MINE in Canada, INKAI and HIGHLAND in Kazakhstan and TALVIVAARA in Finland, its main assets in development are CIGAR LAKE and MILLENNIUM in Canada and KINTYRE in Australia and its main exploration properties are EAGLE POINT, DAWN LAKE, SMART LAKE, BOOMERANG and DAWSON in Canada. Cameco is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 26.6 billions as of today (US$ 19.5 billions, € 18.2 billions). Its stock quote reached its lowest recent point on December 26, 2003 at CA$ 10.02, and its highest recent level on April 25, 2024 at CA$ 67.16. Cameco has 395 792 522 shares outstanding. |