Invest in Canada

{{Short description|Canadian governmental organisation}} {{Infobox government agency | name = Invest in Canada | seal = | logo = Official Invest in Canada Logo.png | logo_caption = Invest in Canada's logo {{as of|2018|lc=y|since=y}} | formed = 12 March 2018 | jurisdiction = | headquarters = Ottawa, Ontario | employees = | budget = | minister1_name = Maninder Sidhu | minister1_pfo = Minister of International Trade | chief1_name = Karl Tabbakh | chief1_position = Board Chair | chief2_name = Laurel Broten | chief2_position = CEO | chief3_name = | chief3_position = | chief4_name = | chief4_position = | chief5_name = | chief5_position = | chief6_name = | chief6_position = | chief7_name = | chief7_position = | chief8_name = | chief8_position = | chief9_name = | chief9_position = | parent_department = Global Affairs Canada | keydocument1 = ''Investment Canada Act'' | website = {{URL|http://investcanada.ca/}} | logo_alt = A stylized maple leaf in red tones, and the words "invest in CANADA /investir au Canada" in black. }}

'''Invest in Canada''' is an arms-length Government of Canada organization that promotes and attracts foreign direct investment into Canada. It was created through the ''Investment Canada Act'' and launched on March 12, 2018<ref>[https://www.canada.ca/en/global-affairs/news/2018/03/government-of-canada-launches-invest-in-canada-to-attract-global-investment-and-create-jobs.html "Government of Canada launches Invest in Canada to attract global investment and create jobs, News Release, March 12, 2018]</ref> as a departmental corporation.

==History==

Before the Invest in Canada agency was created, a division within the federal department Global Affairs Canada led the promotion of investment into Canada. In 1985, the Government implemented the ''Investment Canada Act'' to govern foreign direct investment. The Harper government used to limit foreign investment to no more than 50% share,<ref>[https://business.financialpost.com/2013/10/18/alberta-courts-china-as-key-energy-market-in-framework-deal/?__lsa=65a6-516b "Alberta courts China as ‘key’ energy market in framework deal" 18 Oct 2013 Financial Post]</ref> through a policy designed by Nigel S. Wright during his time at the PMO.

Foreign direct investment (FDI) by country<ref name=canfdibycountry>{{Cite web |url=http://www.international.gc.ca/economist-economiste/assets/pdfs/Data/investments-investissements/FDI_by_Country/FDIC_stocks_by_Country-ENG.pdf |title=Statistics Canada Foreign Investment by Country |access-date=2013-10-28 |archive-date=2019-09-19 |archive-url=https://web.archive.org/web/20190919112725/https://www.international.gc.ca/economist-economiste/assets/pdfs/Data/investments-investissements/FDI_by_Country/FDIC_stocks_by_Country-ENG.pdf |url-status=dead }}</ref> and by industry<ref name=canfdibyindustry>{{Cite web |url=http://www.international.gc.ca/economist-economiste/assets/pdfs/Data/investments-investissements/FDI_by_NAICS/FDI-Inward-Stocks-by-NAICS-Industry-ENG.pdf |title=FDI by industry (NAICS) |access-date=2013-10-28 |archive-date=2019-06-17 |archive-url=https://web.archive.org/web/20190617000144/https://www.international.gc.ca/economist-economiste/assets/pdfs/Data/investments-investissements/FDI_by_NAICS/FDI-Inward-Stocks-by-NAICS-Industry-ENG.pdf |url-status=dead }}</ref> are tracked by Statistics Canada; the total in 2012 of FDI was {{CAD|634|link=yes}} bn.<ref name=canfdibycountry/> New FDI inflow to Canada in 2011 was {{CAD|40.8}} bn.<ref>[http://www.international.gc.ca/economist-economiste/performance/state-point/state_2012_point/2012_6.aspx?lang=eng FDI inflow tracked by Government of Canada]</ref> Canada was host to {{CAD|33}} bn in state-owned enterprise investment over the period between 2005 and 2012.<ref>[https://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/china-worried-by-canadas-slow-pace-of-energy-sector-development-minister-says/article15111354/ Globe 28 Oct 2013 "Canada's slow oil, gas infrastructure development worry Chinese, minister says"]</ref> Over the same period, the net FDI increased by {{CAD|236.1}} bn, so that SOE FDI was almost 14% of the total. Conversely, Canadian SOEs limit themselves to domestic affairs. The SOE of Canada are not aggressive in this manner: Canadian SOEs have no foreign investments.

The Canadian government is planning to raise to {{CAD|1}} bn the amount of foreign money that can go into a Canadian company before the investment is reviewed. As of 2012, an investment or takeover of a Canadian business by a WTO investor worth {{CAD|330}} mn or more triggers a federal review under the Investment Canada Act. The WTO was implemented in Canada by the ''World Trade Organization Agreement Implementation Act'' in 1994.<ref>[https://www.canlii.org/en/ca/laws/stat/sc-1994-c-47/latest/sc-1994-c-47.html Text of the "World Trade Organization Agreement Implementation Act", SC 1994, c 47]</ref> Innovation, Science and Economic Development Canada provides a helpful webpage with this information and explains that WTO members are eligible for {{CAD|344}} mn review-free investment as of 12 January 2013.<ref>{{Cite web |url=http://www.ic.gc.ca/eic/site/ica-lic.nsf/eng/h_lk00050.html |title="Thresholds for Review", Industry Canada |access-date=2013-10-31 |archive-date=2019-04-14 |archive-url=https://web.archive.org/web/20190414192533/http://www.ic.gc.ca/eic/site/ica-lic.nsf/eng/h_lk00050.html |url-status=dead }}</ref> The WTO maintains a membership list.<ref>[https://wto.org/english/thewto_e/whatis_e/tif_e/org6_e.htm WTO membership list]</ref> The information on the WTO "amount" permitted by the discretion of the Minister of Industry under subsection 14.1(2) of the Investment Canada Act is published annually in January in the Canada Gazette. The government investigates whether the investment is of "net benefit" to Canada, which brings into play a nebulous political definition.<ref>[https://www.cbc.ca/news/politics/ottawa-moves-to-limit-foreign-investment-reviews-1.1273789 "Ottawa moves to limit foreign investment reviews" CBC 25 May 2012]</ref> Amounts inferior to this limit do not incur political oversight under the Investment Canada Act, so that the foreign investor is treated like any other Canadian investor. This means effectively, that Canada is open to reverse takeover by stealth. Prime Minister Harper clarified this FDI policy area in Toronto on 7 November 2013 when he said that a little wiggle room was needed on foreign takeover rules.<ref>[https://www.theglobeandmail.com/news/politics/foolish-for-canada-to-be-too-clear-on-foreign-investment-rules-harper-says/article15348308/ "Harper says clarity not needed on foreign takeover rules " G+M 8 Nov 2013]</ref>

==Bonds== On 5 November 2013, British Columbia finance minister Mike de Jong reported a successful placement of Chinese RMB$2.5bn in dim sum bonds.<ref>[http://english.caixin.com/2013-11-06/100600037.html "Canadian Province Issues Offshore Yuan-Denominated Bonds" 5 Nov 2013]</ref> The issue was five times oversubscribed.

==Investments==

===2004–05=== * On 8 March 2004, The J.M. Smucker Company bought International Multifoods Corporation for cash US$500M and considerations of $340M.<ref>[http://usatoday30.usatoday.com/money/industries/food/2004-03-08-smucker_x.htm usatoday.com: "Smucker buys International Multifoods for $500M" 8 Mar 2004]</ref> This included Robin Hood Flour, Red River Cereal, Bick's Pickles and Monarch Flour, among a dozen other brands.<ref>{{Cite web |url=https://www.ekornferry.com/Library/Process.asp?P=Opportunity&S=XS358 |title=kornferry.com recruitment ad for "Vice-President, Supply Chain" of Smucker's |access-date=2014-02-13 |archive-date=2016-01-31 |archive-url=https://web.archive.org/web/20160131082211/https://www.ekornferry.com/Library/Process.asp?P=Opportunity&S=XS358 |url-status=dead }}</ref> * On 21 August 2005,TUI AG unit Hapag-Lloyd agreed to acquire CP Ships Limited, including its Port of Montreal transshipment wharf, for €1.7bn (US$2bn) in cash. It has now made the combined fleet the fifth largest by capacity in the worldwide container shipping market.<ref>[https://web.archive.org/web/20171012002556/http://www.tui.com/en/pressemedien/press_releases/2005/2005_08_21_CP_Ships.html TUI press release about CP Ships]</ref> In 2006 the CP Ships name disappeared for good. TUI AG plans to divest of Hapag-Lloyd, which is a 37% German SOE.

===2006=== * In January, ArcelorMittal took over Dofasco, for {{CAD|5.5}} bn.<ref>{{cite news| url=https://www.cbc.ca/news/business/dofasco-recommends-acceptance-of-arcelor-bid-1.614349 | work=CBC News | title=Dofasco recommends acceptance of Arcelor bid | date=2006-01-24}}</ref> * In August, Xstrata (subsequently delisted) {{CAD|16}} bn purchased for US$22.5bn Falconbridge Ltd. (subsequently delisted)<ref name="xstrata">{{cite web |url=http://www.financialpost.com/story.html?id=2c7b0cfe-14be-40dc-8d92-8a74685e9782&p=6 |title=Financial Post: "How Xstrata won Falconbridge" |access-date=2013-09-27 |archive-url=https://web.archive.org/web/20131003000624/http://www.financialpost.com/story.html?id=2c7b0cfe-14be-40dc-8d92-8a74685e9782&p=6 |archive-date=2013-10-03 |url-status=dead }}</ref> * In October, Vale purchased 86% of INCO (subsequently delisted) for {{CAD|15}} bn<ref name="vale">[https://www.bloomberg.com/news/2006-10-24/vale-buys-control-of-canadian-nickel-miner-inco-update4-.html Bloomberg: "Vale Buys Control of Canadian Nickel Miner Inco" 24 Oct 2006]</ref> *In 2006 and 2007, Sinopec Shanghai Engineering Co. Ltd.'s Canadian subsidiary named SSEC Canada Ltd was hired by Canadian Natural Resources to build a structure on their Horizon Oil Sands project. On 24 April 2007, two Chinese temporary foreign workers were killed and five other Chinese temporary foreign workers were injured. SSEC was fined in October 2012 {{CAD|1.5}} mn for the incident. Investigations later determined that 132 SSEC workers had been unpaid since the start of their employment with SSEC. SSEC fled the country and the government was unable for a number of years to serve it legal documents.<ref>{{cite web|title=Financial Post: "Lessons of oil-sands tragedy" (D. Francis) date unknown|url=http://www.financialpost.com/opinion/story.html?id=fce6a9c9-d477-4819-ab44-cf5dc1da9753|url-status=dead|archive-url=https://web.archive.org/web/20140202182447/http://www.financialpost.com/opinion/story.html?id=fce6a9c9-d477-4819-ab44-cf5dc1da9753|archive-date=2014-02-02|access-date=2014-01-20}}</ref><ref>[https://www.theglobeandmail.com/news/national/suncor-staffer-dies-at-oil-sands-project-site/article16402311/ G+M: "Suncor staffer dies at oil-sands project site" (Tait) 19 Jan 2014]</ref>

===2007=== * In January, Bowater merged with Abitibi Consolidated to form a 52-48 joint venture called AbitibiBowater.<ref>{{cite news | title = Abitibi, Bowater merging to create forestry giant | url = https://www.cbc.ca/news/business/abitibi-bowater-merging-to-create-forestry-giant-1.632402 | work=CBC News | date = 2007-01-30 | access-date = 2009-04-16}}</ref> * In April, Algoma Steel was purchased by India's Essar Group for US$1.63 billion, continuing operations as a subsidiary known as Essar Steel Algoma Inc. * In May, a deal to acquire IPSCO steel (of Saskatchewan<ref>{{Cite web |url=http://esask.uregina.ca/entry/ipsco_inc.html |title="The company known today as "IPSCO Inc.," one of the world's leading producers of steel plate and pipe, began its corporate life in Regina, Saskatchewan on July 13, 1956, as "Prairie Pipe Manufacturing Company Ltd."..." |access-date=December 25, 2013 |archive-date=May 22, 2013 |archive-url=https://web.archive.org/web/20130522045019/http://esask.uregina.ca/entry/ipsco_inc.html |url-status=dead }}</ref>) for $7.7 billion was announced by SSAB Swedish Steel AB. * In June, the ED Smith Income Fund accepted a takeover for {{CAD|217}} mn from TreeHouse Foods of Chicago.<ref>[https://www.cbc.ca/news/business/jam-maker-e-d-smith-relishes-takeover-by-u-s-pickle-giant-1.669471 cbc.ca: "Jam maker E.D. Smith relishes takeover by U.S. pickle giant" 25 Jun 2007]</ref> * In July, Rio Tinto acquired Alcan Inc., in a US$38 billion deal.<ref name="CTV-Alcan-Aq">{{cite web | url=https://www.ctvnews.ca/rio-tinto-alcan-reach-us-38-1-billion-merger-deal-1.248444 | archive-url=https://web.archive.org/web/20121020072014/http://www.ctvnews.ca/rio-tinto-alcan-reach-us-38-1-billion-merger-deal-1.248444 | url-status=dead | archive-date=October 20, 2012 | title= Rio Tinto, Alcan reach US$38.1-billion merger deal | publisher=CTV.ca|year=2007| access-date=8 August 2007 }}</ref> Rio Tinto Alcan subsequently divested itself of Alcan Engineered Products (to a consortium) and Alcan Packaging (to Amcor, announced in August 2009). In January 2013 the CEO in charge of the Alcan deal, Tom Albanese, stepped down in favour of Sam Walsh because he had overpaid.<ref>[https://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/dented-by-aluminum-rio-tinto-aims-to-unload-iron-ore-co/article9201005/ G+M: "Dented by aluminum, Rio Tinto aims to unload Iron Ore Co." 1 Mar 2013]</ref> *In 2007, the UK Tate & Lyle conglomerate announced the sale of its Redpath Sugar refining business to American Sugar Refining *In 2007, US Steel's {{CAD|1.9}} bn took over the bankrupt Stelco works (largely in Hamilton), subsequently idled in 2010 and finally shutdown in October 2013.<ref>[https://www.theglobeandmail.com/report-on-business/us-steel-to-shut-down-hamilton-works-ceo-says/article15142440/ G+M 30 Oct 2013 "U.S. Steel ends an era in Hamilton"]</ref>

=== 2008–12 === * In spring 2009, China Investment Corporation purchased a {{CAD|1.7}} bn 17% share ownership of Teck Resources.<ref name=gm27sep>[https://www.wsj.com/articles/SB10001424052702304526204579099611512948256 WSJ: "Chinese steel giant eyes Rio Tinto assets" 27 Sep 2013]</ref><ref name=cicteck>[https://www.theglobeandmail.com/report-on-business/the-man-behind-the-teck-cic-deal/article4278324/ G+M "The man behind the Teck-CIC deal" 3 Jul 2009]</ref> * IPIC, which is wholly owned by the government of the Emirate of Abu Dhabi, 100% purchase of Nova Chemicals (subsequently delisted)<ref name=novachem>{{Cite web |url=http://www.novachem.com/Pages/company/company-history-development.aspx |title=Nova Chemicals: "Company History and Development" |access-date=2013-09-27 |archive-date=2013-04-24 |archive-url=https://web.archive.org/web/20130424110548/http://www.novachem.com/Pages/company/company-history-development.aspx |url-status=dead }}</ref> * On 12 April 2010, ConocoPhillips agreed to sell its 9% share in Syncrude to Sinopec, a Chinese SOE oil company. The sale, for $4.65 billion, was completed on June 25, 2010.<ref>{{cite news|title=China's Sinopec takes $4.65-billion US stake in oilsands with ConocoPhillips buy|url=http://www.canada.com/vancouversun/news/business/story.html?id=a37b29ad-4a25-438a-9ab7-69833fa6e1ae&k=67287|access-date=1 April 2012|newspaper=Vancouver Sun|date=13 April 2010|archive-url=https://web.archive.org/web/20140121054229/http://www.canada.com/vancouversun/news/business/story.html?id=a37b29ad-4a25-438a-9ab7-69833fa6e1ae&k=67287|archive-date=2014-01-21|url-status=dead}}</ref><ref>{{cite web|title= ConocoPhillips Sells Syncrude Stake to Sinopec |url=http://www.rigzone.com/news/article.asp?hpf=1&a_id=95183|work=Press Release|publisher=RigZone|access-date=25 June 2010|date=25 June 2010}}</ref> * Also in April 2010, Merit Mining Corp. was taken over by Tianjin Huakan Group Co. Ltd. in a {{CAD|15.5}} mn deal,<ref>Report on Business Magazine, Nov 2013</ref><ref>{{Cite web |url=http://www.huakanmining.com/2010/04/20/merit-mining-corp-signs-subscription-agreement-with-hong-kong-huakan-investment-co-limited/ |title="Merit Mining Corp. Signs Subscription Agreement with Hong Kong Huakan Investment Co., Limited" 10 Apr 2010, Huakan press release |access-date=26 October 2013 |archive-date=23 March 2016 |archive-url=https://web.archive.org/web/20160323203146/http://www.huakanmining.com/2010/04/20/merit-mining-corp-signs-subscription-agreement-with-hong-kong-huakan-investment-co-limited/ |url-status=dead }}</ref> and in December 2010 subsequently renamed to Huakan International Mining Inc.<ref>{{Cite web |url=http://www.huakanmining.com/2010/12/15/merit-mining-corp-changes-name/ |title="Merit Mining Corp. Changes Name" 15 Dec 2010 Huakan press release |access-date=26 October 2013 |archive-date=18 March 2016 |archive-url=https://web.archive.org/web/20160318164033/http://www.huakanmining.com/2010/12/15/merit-mining-corp-changes-name/ |url-status=dead }}</ref> The transaction was funded by Hong Kong Huakan Investment Corp., an opaque Chinese investor located at Unit 1105, 11/F, Tower 1, Lippo Centre No. 89 Queensway, Admiralty, Hong Kong.<ref>[https://archive.today/20131026155538/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=143641859 Bloomberg Businessweek "Company Overview of Hong Kong Huakan Investment Co., Ltd"]</ref><ref>[http://www.companies-hongkong.com/hong-kong-huakan-investment-co-limited-tztb/ "HONG KONG HUAKAN INVESTMENT CO., LIMITED; Local Company" companies-hongkong.com]</ref><ref>[http://ca.hotstocked.com/docs/show/huakan_international.../ew051410.pdf "EARLY WARNING REPORT PURSUANT TO NATIONAL INSTRUMENT 62-103"]{{Dead link|date=September 2024 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> * The Norwegian SOE, Statoil, formed a 65-35 joint venture<ref name=otjv>[http://www.offshore-technology.com/projects/mizzen-prospect/ Offshore Technology: "Mizzen Prospect"]</ref> with Husky Energy,<ref name=statoil>[https://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/statoil-lauds-big-oil-find-offshore-canada/article14540511/ G+M "Husky, Statoil laud big offshore Canada oil find " 26 Sep 2013]</ref> which is controlled in Hong Kong by Li Ka Shing.<ref>{{cite web |url=https://www.bloomberg.com/news/2012-11-01/husky-profit-rises-on-refining-margin-as-production-falls.html |title=Husky Profit Rises on Refining Margin as Production Falls |author= Rebecca Penty |date=November 1, 2012 |publisher=Bloomberg}}</ref> * In 2011, Pohang Iron and Steel Company joint venture with Fortune Minerals, a $768mn project<ref>{{Cite web |url=http://investnorthwestbc.ca/major-projects-and-investment-opportunities/map-view/mount-klappan/mount-klappan-2 |title=investnorthwestbc.ca: "Arctos Anthracite Project (formerly Mount Klappan Anthracite Metallurgical Coal Project)" |access-date=2013-09-27 |archive-url=https://web.archive.org/web/20130930174242/http://investnorthwestbc.ca/major-projects-and-investment-opportunities/map-view/mount-klappan/mount-klappan-2 |archive-date=2013-09-30 |url-status=dead }}</ref> * Also in 2011, HD Mining International was taken over by Huiyong Holdings (BC) (55%) and Canadian Dehua Lvliang Ltd. (40%) to operate the Murray River project. Huiyong Holdings (BC) is 100% owned by Huiyong Holdings China, an opaque Chinese investor.<ref>[http://www.hdminingintl.com/about-hd-mining-international "About HD Mining International Ltd" company webpage]</ref><ref>[https://www.theglobeandmail.com/news/british-columbia/bc-coal-mine-has-close-ties-to-chinese-government-steelworkers-say/article6594393/ "B.C. coal mine has close ties to Chinese government, steelworkers say" 19 Dec 2012 Globe and Mail]</ref> * In October 2012, TransCanada Corporation and Phoenix Energy Holdings (aka PetroChina SOE) formed a 50-50 joint-venture {{CAD|3}} bn Grand Rapids Pipeline project in Northern Alberta (operated by Brion Energy Corp.).<ref>[https://www.reuters.com/finance/stocks/TRP/key-developments/article/2631892 "TransCanada Corp And Phoenix Energy Holdings Ltd. Form Joint Venture To Develop Grand Rapids Pipeline System" 29 Oct 2012]</ref> * Athabasca Oil Corp. and Phoenix Energy Holdings (aka PetroChina SOE) 40-60 joint-venture in Dover oil sands project.<ref>[https://www.theglobeandmail.com/report-on-business/athabasca-shares-plummet-as-first-nation-wins-leave-to-appeal/article14933271/ "Athabasca shares plummet as First Nation wins leave to appeal" G+M 18 Oct 2013]</ref> * In December 2012, Malay SOE, Petroliam Nasional, purchased for {{CAD|6}} bn Progress Energy (since delisted).<ref name=gm27sep/><ref name=fp12dec>[https://business.financialpost.com/2012/12/12/petronas-completes-6-billion-progress-energy-acquisition-after-deal-gets-ottawas-approval/?__lsa=d28b-f273 Financial Post: "Petronas completes $6-billion Progress Energy acquisition after deal gets Ottawa’s approval" 12 Dec 2012]</ref> * Also in December 2012, Baffinland was formed, now a Nunavut Iron/ArcelorMittal 50-50 joint venture, with the latter as Project Operator<ref>[http://www.marketwatch.com/story/arcelormittal-and-nunavut-iron-ore-become-equal-partners-in-baffinland-2012-12-13 marketwatch.com 13 December 2012 "ArcelorMittal and Nunavut Iron Ore become equal partners in Baffinland"]</ref>

===2013=== * On 14 January, [http://www.armz.ru/eng JSC «Atomredmetzoloto»], a unit of ARMZ Uranium Holding, which in turn is controlled by Russian SOE, Rosatom, bid US$1.3bn for the 49% stake it didn't already own in Uranium One, a Canadian miner with holdings in Kazakhstan.<ref>[https://www.bloomberg.com/news/2013-01-14/russia-s-armz-to-buy-balance-of-uranium-one-for-c-1-3-billion.html bloomberg.com: "ARMZ Seeks Rest of Uranium One for $1.3 Billion; Won’t Raise Bid " 14 Jan 2013]</ref><ref>[https://business.financialpost.com/2013/01/14/uranium-one-bought-by-top-russian-shareholder-armz-for-1-3-billion/ FP: "Uranium One bought by top Russian shareholder ARMZ for $1.3-billion; Russia's ARMZ snaps up rest of Uranium One for $1.3-billion" 14 Jan 2013]</ref> * On 29 January, AltaGas and Idemitsu Kosan formed a 50-50 joint venture named Triton LNG Limited Partnership, to export Alberta LNG to Japan.<ref>[https://www.marketwired.com/press-release/altagas-ltd-idemitsu-kosan-co-ltd-form-partnership-pursue-opportunities-export-energy-tsx-ala-1750456.htm "AltaGas Ltd. and Idemitsu Kosan Co., Ltd. Form Partnership to Pursue Opportunities to Export Energy From Canada" 29 Jan 2013]</ref><ref name=bcreg>{{Cite web |url=http://www2.news.gov.bc.ca/news_releases_2013-2017/2013MNGD0027-001646.htm |title="INFORMATION BULLETIN: Triton LNG joins list of B.C. proposals" gov.bc.ca |access-date=2013-12-03 |archive-url=https://web.archive.org/web/20131207105509/http://www2.news.gov.bc.ca/news_releases_2013-2017/2013MNGD0027-001646.htm |archive-date=2013-12-07 |url-status=dead }}</ref> * In February, ExxonMobil took over Celtic Exploration Ltd. in a deal valued at {{CAD|3.1}} bn<ref name=form>{{Cite news | url=https://financialpost.com/commodities/energy/encana-petrochina-form-joint-venture-to-develop-natural-gas-in-alberta | date=December 13, 2012 | work=Financial Post | title=Encana, PetroChina form joint venture to develop natural gas in Alberta}}</ref><ref>[https://www.theglobeandmail.com/globe-investor/ottawa-approves-exxon-mobils-31-billion-bid-for-celtic-exploration/article8906899/ "Ottawa approves Exxon Mobil’s $3.1-billion bid for Celtic Exploration " 20 Feb 2013]</ref> because of holdings in the Duvernay Formation.<ref>{{Cite web |url=http://www.albertaoilmagazine.com/2013/02/exxonmobils-takeover-of-celtic-exploration-closes/ |title=albertaoilmagazine.com: "ExxonMobil's takeover of Celtic Exploration closes" |access-date=2013-10-18 |archive-url=https://web.archive.org/web/20160405235119/http://www.albertaoilmagazine.com/2013/02/exxonmobils-takeover-of-celtic-exploration-closes/ |archive-date=2016-04-05 |url-status=dead }}</ref> * Also in February, CNOOC (a Chinese SOE) purchased for {{CAD|15.1}} bn Nexen Canada<ref name=nexen>[https://www.reuters.com/article/us-nexen-cnooc-idUSBRE91O1A420130225 Reuters: "CNOOC closes $15.1 billion acquisition of Canada's Nexen" 25 Feb 2013]</ref> * In June, the H. J. Heinz Company was sold to Berkshire Hathaway and 3G Capital of Brazil for {{CAD|28}} bn.<ref name=gmheinz>[https://www.theglobeandmail.com/report-on-business/heinz-to-close-ontario-plant-cut-800-jobs/article15442338/ G+M: "Heinz to close Ontario factory, trim 740 jobs" 14 Nov 2013]</ref> The deal had been agreed in February of that year.<ref>{{cite web|url=https://www.cnbc.com/2013/02/14/berkshire-hathaway-3g-buying-heinz-for-233-billion.html |title=Berkshire Hathaway, 3G Buying Heinz for $23.3 Billion |publisher=CNBC |date=November 21, 2012 |access-date=2013-02-14}}</ref> Included in this deal was the Heinz tomato ketchup plant in Leamington, which later was closed in November 2013,<ref name=gmheinz/> after the October announcement by McDonald's that they would stop serving Heinz products in their restaurants, because the CEO hired by Heinz, Bernardo Hees, was then vice-chairman of Burger King, which was at the time owned by 3G Capital.<ref>[https://www.cbc.ca/news/canada/windsor/mcdonald-s-to-stop-using-heinz-ketchup-at-its-restaurants-1.2254119 cbc.ca "McDonald's to stop using Heinz ketchup at its restaurants; 34,000 stores worldwide affected by what some call 'corporate battle of the century'" (AP) 28 Oct 2013]</ref> * In November, Talisman Energy sold 75% of its Montney Formation gas holdings to Petronas SOE for {{CAD|1.5}} bn.<ref>[https://www.thestar.com/business/2013/11/08/foreign_investment_doesnt_need_absolute_clarity_harper.html "Foreign investment doesn’t need ‘absolute clarity': Harper" Toronto Star, 8 Nov 2013]</ref> The transaction involves 127,000 acres.<ref>[https://www.bloomberg.com/news/2013-11-08/talisman-sells-montney-assets-to-progress-for-1-4-billion.html 8 Nov 2013, Bloomberg "Talisman Sells Montney to Petronas for $1.4 Billion"]</ref> * Also in November, Petronas SOE 90% subsidiary Pacific Northwest LNG announced its plans to build a {{CAD|11}} bn LNG terminal on Lelu Island. The plant is still in its early design phases; only 25 employees have been hired.<ref>[https://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/petronas-moves-to-secure-asian-market-with-natural-gas-megaproject/article15480512/ "Petronas moves to secure Asian market with natural gas megaproject" 17 Nov 2013 G+M]</ref> * On December 16, it was announced that Reynolds Consumer Products Inc., subsidiary of Rank Group Ltd. of New Zealand, planned to purchase aluminum products manufacturer Novelis, subsidiary of Hindalco of India for {{CAD|35}} mn.<ref>[https://www.theglobeandmail.com/report-on-business/novelis-sale-to-reynolds-could-lead-to-job-cuts/article15977197/ "Novelis sale to Reynolds could lead to job cuts" G+M 16 Dec 2013]</ref> * On December 24, Sherritt International divested itself of Alberta and Saskatchewan coal properties valued at {{CAD|465}} mn to the benefit of Colorado-based Westmoreland Coal<ref>[https://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/sherritt-to-sell-coal-business-for-946-million/article16097443/ "Major shareholder calls for board shakeup as Sherritt exits coal" RACHELLE YOUNGLAI - MINING REPORTER The Globe and Mail]</ref> *Also in December, EnCana (now Ovintiv) and PetroChina SOE formed a 50.1-49.9 joint venture (total {{CAD|4.4}} bn) to develop the Duvernay Formation in Alberta.<ref name=form/>

===2014=== * On January 31, Norwegian SOE Statoil and Thailand SOE PTTEP announced their plan to split their 60-40 joint-venture in the Kai Kos Dehseh oilsands project, so that they would each control 100% of their own leasehold properties. PTTEP spent $2.3bn on the joint venture in 2011. PTTEP got the "Thornbury", "Hangingstone" and "South Leismer" leases, while Statoil obtained the "Leismer" and "Corner" properties and was to pay $200mn to PTTEP.<ref>[https://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/statoil-raises-exposure-to-canadas-oil-sands-with-thai-deal/article16603518/ G+M "Statoil, PTTEP deal to test tighter oil sands rules" 31 Jan 2013]</ref><ref name=postponed/> However, in September, Statoil postponed its investment in the "Corner" project.<ref name="postponed">{{cite news|url=https://calgaryherald.com/business/Statoil+puts+oilsands+expansion+hold/10235539/story.html |publisher=Calgary Herald |title=Statoil puts oilsands expansion on hold |author=Dan Healing |date=9 September 2014}}</ref> * On February 12, Mexican baker Grupo Bimbo announced a $1.83bn takeover of Canada Bread, a publicly traded corporation which had been controlled by Maple Leaf Foods.<ref name=bimbo>[https://www.theglobeandmail.com/report-on-business/maple-leaf-selling-canada-bread-to-mexicos-grupo-bimbo-for-183-billion/article16823614/ G+M: "Mexico’s Grupo Bimbo buying Canada Bread for $1.83-billion" 12 Feb 2014]</ref> Canada Bread sales in 2013 were estimated at $1.6bn, and its employees numbered 5,400.<ref name=bimbo/> By contrast, Bimbo employs 126,000 people at 144 plants in 19 countries, including Mexico, Latin and South America, the United States, Europe and Asia.<ref name=bimbo/> * Canada's fifth-largest independent oil producer, Talisman Energy, was purchased by Repsol, the Spanish oil major, for $8.3 billion plus the assumption of $4.7 billion of Talisman's debt.<ref>[https://www.reuters.com/article/us-repsol-m-a-talisman-idUSKBN0JT1K620141216 Repsol to buy Talisman Energy for hefty premium], 16 Dec 2014</ref><ref>{{cite news|title=cbc.ca Business News>Talisman agrees to $15.1B Cdn takeover by Spain's Repsol|url=https://www.cbc.ca/news/business/talisman-agrees-to-15-1b-cdn-takeover-by-spain-s-repsol-1.2874486/}}</ref>

The oil sands in Alberta cover a vast area, and the pipelines needed to ferry their output to the BC coastline, where it will be transported by ship to Asian markets, span a wide range of investments. Many joint venture projects with foreign firms exist because Canadian capital is insufficient. Examples of news articles that have yet to be harvested for this wiki are a CBC article,<ref name=cbchorizon>[https://www.cbc.ca/news/canada/the-horizon-oil-sands-site-1.1093604 cbc.ca: "The Horizon Oil Sands site" 7 Jan 2011]</ref> and the BC regulator,<ref name=bcreg/> as well as p.&nbsp;13 of a report from Ernst and Young.<ref>{{Cite web |url=http://www.ey.com/Publication/vwLUAssets/Exploring_the_top_10_opportunities_and_risks_in_Canadas_oilsands_2012%E2%80%9313/$FILE/Exploring_the_top_10_opportunities_and_risks_in_Canadas_oilsands_2012%E2%80%9313.pdf |title=ey.com: "Exploring the top 10 opportunities and risks in Canada's oil sands 2012" |access-date=2014-01-20 |archive-url=https://web.archive.org/web/20130623085029/http://www.ey.com/Publication/vwLUAssets/Exploring_the_top_10_opportunities_and_risks_in_Canadas_oilsands_2012%E2%80%9313/$FILE/Exploring_the_top_10_opportunities_and_risks_in_Canadas_oilsands_2012%E2%80%9313.pdf |archive-date=2013-06-23 |url-status=dead }}</ref>

===2015===

* On 16 April, the Saudi Agricultural and Livestock Investment Co. (SALIC) partnered with U.S. agribusiness giant Bunge Limited to form Global Grain Group (G3), which will be the majority owner of Winnipeg-based Canadian Wheat Board with an investment valued at $250-million.<ref name=gandm-cwbsold>{{cite news|title=U.S., Saudi firms to buy former Canadian Wheat Board|url=https://www.theglobeandmail.com/report-on-business/us-saudi-firms-to-buy-former-canadian-wheat-board/article23966156/|access-date=15 April 2015|work=The Globe and Mail|date=15 April 2015}}</ref><ref>[https://www.theglobeandmail.com/report-on-business/international-business/water-poor-saudi-arabia-invests-in-canadian-wheat-boards-grain/article23997819/ Water-poor Saudi Arabia invests in Canadian Wheat Board’s grain"], 16 Apr 2015</ref><ref>[https://www.theglobeandmail.com/report-on-business/manitoba-port-feels-squeeze-from-grain-industry-shakeup/article24158705/ globeandmail.com: "Manitoba port feels squeeze from grain industry shakeup"], 28 Apr 2015</ref> As the principal was less than the government-regulated threshold, the investment incurred no review.

=== 2016 ===

* Thalmic Labs, a wearable computing start-up, invested US$158 Million * Real Matters, a property valuation services, received US$100 Million * Buildscale, a video marketing platform, received US$49 Million<ref>{{Cite journal|last=JLL|date=2016|title=Technology Outlook 2016, Canada|url=http://www.jll.ca/canada/en-ca/Research/CAN-Technology-Outlook-2016-JLL.pdf|journal=Jones Lang Lasalle|access-date=2018-07-06|archive-url=https://web.archive.org/web/20180706104135/http://www.jll.ca/canada/en-ca/Research/CAN-Technology-Outlook-2016-JLL.pdf|archive-date=2018-07-06|url-status=dead}}</ref> * BlueRock Therapeutics, operating in regenerative medicine, received US$295 Million by Versant Ventures * Dal Cor Pharmaceuticals received US$126 Million by Sanderling Ventures * Zymeworks, operating in antibody and Protein Therapeutics, received US$87.8 from BDC Capital<ref>{{Cite web|agency=Reuters|date=2016|title=Canadian Venture Capital Review Full Year 2016|url=https://www.pehub.com/wp-content/uploads/2017/02/Canadian-Venture-Capital-Review-2016-2.pdf|work=Canadian Venture Capital Review Full Year 2016|access-date=2018-07-06|archive-date=2017-02-27|archive-url=https://web.archive.org/web/20170227070646/https://www.pehub.com/wp-content/uploads/2017/02/Canadian-Venture-Capital-Review-2016-2.pdf|url-status=dead}}</ref>

=== 2017 ===

* One large investment in 2017 was the purchase by Hong Kong's Li Ka-Shing, who purchased Reliance Home Comfort—a water heater and air conditioning firm—for $2.82 billion.<ref>{{Cite news|url=https://business.financialpost.com/news/economy/foreign-direct-investment-in-canada-plunges-on-oil-exodus-1|title=Foreign direct investment in Canada plunges to the lowest in eight years|date=2018-03-01|work=Financial Post|access-date=2018-07-06|language=en-US}}</ref> * In March, Teutech Industries—a Guelph, Ontario, based manufacturer of precision machined and heat treated powertrain components—was acquired by Indian auto component manufacturer Hi-Tech Gears at US$44 million investment<ref>{{Cite journal|author=((SKP Group))|date=2017|title=Investment Chronicle January – March 2017|url=http://www.skpgroup.com/data/resource/skp_investment_chronicle_2017_january_to_march_.pdf|journal=Investment Chronicles by SKP Group|archive-date=2017-10-21|access-date=2018-07-06|archive-url=https://web.archive.org/web/20171021043529/http://www.skpgroup.com/data/resource/skp_investment_chronicle_2017_january_to_march_.pdf|url-status=dead}}</ref> * A Chinese consortium purchased privately held Valiant-TMS which designs and builds automated production systems.<ref>{{Cite news|url=https://www.theglobeandmail.com/report-on-business/chinese-group-makes-key-acquisition-in-manufacturing/article32456029/|title=Chinese group makes key acquisition in manufacturing|access-date=2018-07-06}}</ref>

==References== {{reflist|colwidth=30em}}

== External links == * {{Official website|https://www.investincanada.gc.ca/}}

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