On August 31, 2018 a subsidiary of CDEV purchased the entities that own and operate the Trans Mountain Pipeline System (www.transmountain.com) that runs between Edmonton, AB and Burnaby, BC and Washington State. The purchase price is $4.5 Billion before closing adjustments yet to be confirmed. The purchase was financed through loans from the Canada Account managed by Export Development Canada. The subsidiary is Trans Mountain Corporation and is operated by a management team based in Calgary. More information will be made available with CDEV’s Q3 financial report at the end of November 2018.
Report on Special Examination 2009
The Government of Canada has put in place a more rigorous approach to Governor in Council appointments in which open, transparent and merit-based selection processes result in highly qualified candidates that serve the interests of Canadians. In keeping with this commitment, Finance Minister Bill Morneau today announced the appointment of two new members to the Board of Directors of the Canada Development Investment Corporation (CDEV), including Darlene Halwas and Stephen J. Swaffield. Ms. Halwas is Corporate Director of Aquatera Utilities Inc., focusing on audit and risk. She has held senior positions in risk management with Direct Energy Limited, the Saskatchewan Wheat Pool, and TransAlta Corporation. She chairs the Audit Committee of the Commission for Complaints for Telecom-television Services and is past chair of the Governance Committee of the CKUA Radio… Read More