Mar. 27, 2024 - Substantial amendments to the Investment Canada Act (ICA) were enacted on March 22, 2024, with the passing of Bill C-34, the National Security Review of Investments Modernization Act. These amendments, long in the works, will come into effect on a date to be fixed by Cabinet. It...
Canadian Law Awards Names Three Davies Matters as “Deals of the Year”
We advised on three deals that were recognized as winners at the 2022 Canadian Law Awards:
- Definity Financial IPO: Capital Markets Deal of the Year. We acted for the underwriters for the initial public offering and the private placement agents for the concurrent cornerstone private placements. Raising combined proceeds of C$2.3 billion, Definity’s IPO was the largest by a Canadian company in over 20 years and the second-largest ever.
- Agnico Eagle acquisition of TMAC Resources: Mid-Market Deal of the Year. We acted for Agnico Eagle in the all-cash acquisition, valued at approximately C$287 million and completed via an unprecedented assignment of an arrangement agreement between China’s Shandong Gold Mining Co. and TMAC, just weeks after the federal government denied Shandong Gold’s deal on national security grounds. Canadian Lawyer called it “one of the more complicated mining deals in 2021.”
- Brookfield acquisition and privatization of Inter Pipeline: M&A Deal of the Year. We acted for the financial advisers to the special committee and board of directors of Inter Pipeline in Brookfield’s unsolicited bid and subsequent C$8.6-billion acquisition.
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Mar. 13, 2024 - The Canadian government recently issued two policy statements (IDM Statements) affirming that it will enhance its scrutiny under the Investment Canada Act (ICA) of foreign investments in the Canadian Interactive Digital Media (IDM) sector. One of the statements sets out the...