Canada Blocks Petronas C$5.2 Billion Progress Energy Bid
Petronas has 30 days to appeal or provide additional concessions, at which point the government will make a final decision, according to a statement by Industry Minister Christian Paradis.
“I can confirm that I have sent a notice letter to Petronas indicating that I am not satisfied that the proposed investment is likely to be of net benefit to Canada,” Paradis said in a statement.
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