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Divestment of Ridley Terminals Inc. Closes

Canada Development Investment Corporation (CDEV) today announced that the divestment of Ridley Terminals Inc. (RTI) has been completed. Based on an agreement reached in July 2019, Canada has now sold 90 per cent of its shares in RTI to a company owned by Riverstone Holdings and AMCI Group for a purchase price of $350 million. The remaining 10 per cent of Canada’s shares has been transferred to a limited partnership owned by the Lax Kw’alaams Band and the Metlakatla First Nation. CDEV managed the sale process as agent for Canada. Established in 1983, RTI operates on Ridley Island near Prince Rupert, British Columbia, where it transfers bulk commodities from rail cars onto ocean-going vessels. The divestment of RTI is the culmination of a process that started on November 5, 2018,… Read More

Notice of Annual Public Meeting

Canada Development Investment Corporation Notice of Annual Public Meeting   Canada Development Investment Corporation (“CDEV”) will hold its Annual Public Meeting on Wednesday, December 11, 2019, at 9:00 a.m. E.S.T. at the Shaw Centre, 55 Colonel By Drive, Ottawa, Ontario.  Attendee registration is from 8:30 a.m. to 8:55 a.m. Members of the Board of Directors and management of CDEV and its two main subsidiaries, Trans Mountain Corporation and Canada Hibernia Holding Corporation will be present at this meeting, either in person or by video conference. If you wish to listen to the meeting, please contact us at info@cdev.gc.ca to receive details of the call-in information. Questions may be submitted in advance to info@cdev.gc.ca no later than December 4, 2019, and every attempt will be made to answer them during the… Read More

Minister of Finance Announces Appointments to Canada Development Investment Corporation

The Government of Canada is committed to appointing highly qualified candidates able to best serve the interests of Canadians. In keeping with this commitment, Finance Minister Bill Morneau today announced the appointments of Carole Malo and Robert Wener as new members of the Board of Directors of the Canada Development Investment Corporation (CDEV), for terms of 4 years. Biographical information can be found below. The appointments were made under the Government of Canada’s new approach to Governor in Council appointments. This approach is based on open, transparent and merit-based selection processes that strive for gender parity and reflect Canada’s diversity, and supports Ministers in making appointment recommendations for positions within their portfolio by providing them with additional information and referrals. Quote “I would like to congratulate Ms. Malo and Mr…. Read More

Canada Reaches Agreement to Divest Ridley Terminals Inc.

The Canada Development Investment Corporation (CDEV) announces today that Canada has reached an agreement to sell 90 per cent of its shares in Ridley Terminals Inc. (RTI), a federal Crown corporation, to a company owned by Riverstone Holdings and AMCI Group. The company will acquire 90 per cent of Canada’s shares of RTI. The remaining 10 per cent of Canada’s shares will be transferred to a limited partnership owned by the Lax Kw’alaams Band and the Metlakatla First Nation at the close of the sale to the Riverstone-AMCI company. The sale to the Riverstone-AMCI company will be subject to customary closing conditions, including successful completion of a review by the Competition Bureau.   Established in 1983, RTI operates on Ridley Island near Prince Rupert, British Columbia, where it transfers bulk… Read More

CDEV releases its 2018 Annual Report

CDEV Annual Report 2018

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