Feb 13, 2018 07:04 PM

Security Concerns Slow Canada’s Review of China Construction-Firm Purchase

An aerial view of the Yangshan Deep-Water Port, the world´s largest automated cargo wharf, which was build by China Communications Construction Co. (CCCC). If successfully completed, CCCC's planned acquisition of Aecon Group Inc. is set to bethe largest-ever investment by a Chinese company in Canada’s transport and construction sector. Photo: IC

A Chinese state-owned company’s planned acquisition of Canada’s largest infrastructure construction company is now facing prolonged scrutiny by the Canadian government.

The deadline for completing the plan of arrangement for China Communications Construction Co.’s (CCCC) CA$1.45 billion ($1.13 billion) takeover of Toronto-based Aecon Group Inc. has been pushed back by 35 days after Canada’s Minister of Innovation, Science and Economic Development extended the ongoing national security review of the deal, Aecon announced Monday.

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