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Canada to remove foreign investment limit on Nordion

Started by riky, March 29, 2014, 08:00:17 AM

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riky

Canada to remove foreign investment limit on Nordion

<p><a href="http://news.yahoo.com/canada-remove-foreign-investment-limit-nordion-195244130--sector.html"><img src="http://l.yimg.com/bt/api/res/1.2/B8gOQ.Xg_e.TShKiJ49Q_Q--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-03-28T203105Z_1_CBREA2R1KZU00_RTROPTP_2_CBUSINESS-US-NORDION.JPG" width="130" height="86" alt="Canada's Finance Minister Oliver speaks during Question Period in the House of Commons on Parliament Hill in Ottawa" align="left" title="Canada's Finance Minister Oliver speaks during Question Period in the House of Commons on Parliament Hill in Ottawa" border="0" /></a>OTTAWA/WINNIPEG (Reuters) - The Canadian government will remove the 25-percent foreign investment cap on medical isotope provider Nordion Inc in cases that are deemed to be of net benefit to Canada, under legislation introduced on Friday. &quot;The foreign ownership restrictions with respect to the company were put in place when it was privatized in the early 1990s, and do not serve an ongoing purpose,&quot; said Melissa Lantsman, spokeswoman for Finance Minister Joe Oliver. &quot;The removal of the foreign ownership restrictions will allow Nordion to access more investment capital, enabling it to better grow and create jobs, but is conditional on approval of a transaction under the Investment Canada Act.&quot; Nordion shares were down slightly in Toronto and New York in late Friday trading.</p><br clear="all"/>

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