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Federal Government Blocks Sale of Construction Giant Aecon to Chinese Interests

Posted May 25, 2018

Under Economic Issues, International Trade Issues


(CBC News)

The federal government has blocked the sale of Canadian construction company Aecon Group Inc. to Chinese interests, citing national security.

The controversial deal between Aecon and China's CCCC International Holding Ltd., also known as CCCI, would have been worth $1.5 billion.

“As is always the case, we listened to the advice of our national security agencies throughout the multi-step national security review process under the Investment Canada Act,” Innovation Minister Navdeep Bains said in a statement Wednesday.

“Based on their findings, in order to protect national security, we ordered CCCI not to implement the proposed investment.” Click here to read more.

Related: China Warns Canada to Abandon ‘Prejudice’ After Ottawa Blocks Aecon Deal (Globe & Mail)