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Chinese State-Controlled Funds and Entities in Canada

In: Chinese International Investments

Author

Listed:
  • Xiaohua Lin
  • Qianyu Chen

Abstract

In July 2009, Teck Resources Limited, Canada’s largest mining company, approved the purchase by China Investment Corporation (CIC) of 101.3 million Class B subordinate voting shares of Teck through a wholly owned subsidiary. The CIC would indirectly hold approximately 17.5 percent of Teck’s outstanding Class B subordinate voting shares, representing 17.2 percent equity and 6.7 percent voting interests in Teck (Bouw, 2010). By the end of 2009, CIC’s stake in Teck was worth US$3.5 billion, making Teck its largest single equity holding (Perkins, 2010). At about the same time, in December 2009, Canada and China signed a deal for PetroChina to invest US$1.7 billion in two Canadian tar-sand deposits in Alberta (Polzcer, 2009). If successfully implemented, these two deals will become the largest acquisitions so far by China’s State-Controlled Funds and Entities (SCFEs) in North America.

Suggested Citation

  • Xiaohua Lin & Qianyu Chen, 2012. "Chinese State-Controlled Funds and Entities in Canada," Palgrave Macmillan Books, in: Ilan Alon & Marc Fetscherin & Philippe Gugler (ed.), Chinese International Investments, chapter 12, pages 257-276, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-36157-7_13
    DOI: 10.1057/9780230361577_13
    as

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