Canada Blocks Sale Of Aecon To Chinese

Canada’s federal government has blocked the takeover of a leading Canadian infrastructure company by a company controlled by the Chinese government.

Canada cited security reasons for stopping the Cdn $1.5-billion purchase of Aecon Group Inc. by China Communications Construction Co. Ltd., held 63 per cent by the Chinese government. The detailed reasons have not been made public, but there was widespread concern about letting a potentially hostile country have access to critical infrastructure.

Aecon is a builder, significant P3 player – one partner in the Cdn $5.3-billion Crosstown LRT in Toronto – and has a large nuclear and electricity business.

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About Bill Reinhardt

Editor of Public Works Financing newsletter
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