Bombardier/Airbus CSeries Deal: Canada Government Will Consider Production Lines, Jobs and Intellectual Property in Reviewing the Airbus Agreement - It is Not Approved Yet
Canada is considering whether to launch free-trade talks with China
By Josh Wingrove - Bloomberg
Bains is also reviewing a deal in which Airbus SE would acquire a majority stake in Bombardier Inc.'s C Series jet program, a pact announced after the Montreal-based manufacturer discussed a deal with China. The Globe and Mail newspaper reported this month the Trudeau government signaled its preference for a deal with Airbus over China.
The Canadian minister reviewing a Chinese firm's takeover of Aecon Group Inc. isn't committing to a separate national review, saying security issues are rolled into all examinations of foreign acquisitions.
Innovation Minister Navdeep Bains said in a telephone interview Monday the government will "follow the process" and work closely with bureaucrats in its net-benefit review of the takeover by a unit of China Communications Construction Co. Those examinations can trigger fuller-scale security reviews.
Trudeau said on Friday the Canadian government would look at "security issues" raised by the proposed Aecon takeover but refused to specify if a separate security review would be conducted. Canadian law allows the Trudeau cabinet to order a review on security grounds if the Innovation Minister "considers that the investment could be injurious to national security."
Canada is considering whether to launch free-trade talks with China. Trade Minister Francois-Philippe Champagne said in an interview Monday the government is still considering feedback from stakeholders. "We said to the Chinese very openly, we will do that on our terms, on our timetable and with eyes wide open," Champagne said regarding China.