Post by
robbie80 on Apr 22, 2016 11:42am
I believe this is done deal
According to investment Canada Act, "If no approval or notice of extension is received within the applicable time then the investment is deemed approved." I think the application period has passed so application has been approved.
The payment due next week for SinoEnergy of Calgary is: $100M (shareholder) + $60M (convertible debt) = $160M around $800M RMB. The remaining is senior debt (CAD$600m) which is not due probably at the end of this year. Changchun SinoEnergy will have 50% interest of Long Run assets so that after the deposit, around 300M RMB is due next week, which should not be any problem at all.