2004–05 • On 8 March 2004,
The J.M. Smucker Company bought
International Multifoods Corporation for cash US$500M and considerations of $340M. This included
Robin Hood Flour,
Red River Cereal,
Bick's Pickles and
Monarch Flour, among a dozen other brands. • 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. 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 bn. • In August,
Xstrata (subsequently delisted) bn purchased for US$22.5bn
Falconbridge Ltd. (subsequently delisted) • In October,
Vale purchased 86% of
INCO (subsequently delisted) for bn • 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 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.
2007 • In January,
Bowater merged with
Abitibi Consolidated to form a 52-48 joint venture called
AbitibiBowater. • 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) for $7.7 billion was announced by
SSAB Swedish Steel AB. • In June, the
ED Smith Income Fund accepted a takeover for mn from
TreeHouse Foods of Chicago. • In July,
Rio Tinto acquired
Alcan Inc., in a US$38 billion deal.
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. • 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 bn took over the bankrupt
Stelco works (largely in
Hamilton), subsequently idled in 2010 and finally shutdown in October 2013.
2008–12 • In spring 2009,
China Investment Corporation purchased a bn 17% share ownership of
Teck Resources. •
IPIC, which is wholly owned by the government of the
Emirate of Abu Dhabi, 100% purchase of
Nova Chemicals (subsequently delisted) • 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. • Also in April 2010,
Merit Mining Corp. was taken over by Tianjin Huakan Group Co. Ltd. in a mn deal, and in December 2010 subsequently renamed to
Huakan International Mining Inc. 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. • The Norwegian
SOE,
Statoil, formed a 65-35 joint venture with
Husky Energy, which is controlled in
Hong Kong by
Li Ka Shing. • In 2011,
Pohang Iron and Steel Company joint venture with
Fortune Minerals, a $768mn project • 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. • In October 2012,
TransCanada Corporation and
Phoenix Energy Holdings (aka
PetroChina SOE) formed a 50-50 joint-venture bn
Grand Rapids Pipeline project in Northern Alberta (operated by
Brion Energy Corp.). •
Athabasca Oil Corp. and
Phoenix Energy Holdings (aka
PetroChina SOE) 40-60 joint-venture in Dover
oil sands project. • In December 2012, Malay
SOE,
Petroliam Nasional, purchased for bn
Progress Energy (since delisted). • Also in December 2012,
Baffinland was formed, now a
Nunavut Iron/
ArcelorMittal 50-50 joint venture, with the latter as Project Operator
2013 • On 14 January, 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. • On 29 January,
AltaGas and
Idemitsu Kosan formed a 50-50 joint venture named
Triton LNG Limited Partnership, to export Alberta LNG to Japan. • In February,
ExxonMobil took over
Celtic Exploration Ltd. in a deal valued at bn because of holdings in the
Duvernay Formation. • Also in February,
CNOOC (a Chinese
SOE) purchased for bn
Nexen Canada • In June, the
H. J. Heinz Company was sold to
Berkshire Hathaway and
3G Capital of Brazil for bn. The deal had been agreed in February of that year. Included in this deal was the Heinz tomato ketchup plant in
Leamington, which later was closed in November 2013, • In November,
Talisman Energy sold 75% of its
Montney Formation gas holdings to
Petronas SOE for bn. The transaction involves 127,000 acres. • Also in November,
Petronas SOE 90% subsidiary
Pacific Northwest LNG announced its plans to build a bn
LNG terminal on
Lelu Island. The plant is still in its early design phases; only 25 employees have been hired. • 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 mn. • On December 24,
Sherritt International divested itself of Alberta and Saskatchewan coal properties valued at mn to the benefit of Colorado-based
Westmoreland Coal • Also in December, EnCana (now
Ovintiv) and
PetroChina SOE formed a 50.1-49.9 joint venture (total bn) to develop the
Duvernay Formation in Alberta. • 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. Canada Bread sales in 2013 were estimated at $1.6bn, and its employees numbered 5,400. 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, and the BC regulator,
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. 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 • 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
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. • 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 • A Chinese consortium purchased privately held Valiant-TMS which designs and builds automated production systems. ==References==