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Requested Review
Government of Canada to Review the Sale of Nortel Assets to Avaya Under the Investment Canada Act
OTTAWA - Yesterday, Tony Clement, Minister of Industry, issued the following statement regarding the acquisition of Nortel Networks Corporation's Enterprise Solutions Division by Avaya Inc.
"Avaya filed an application for review under the Investment Canada Act (ICA) of its proposed acquisition of Nortel's Enterprise Solutions Division.
"The Nortel assets being sold to Avaya exceed the threshold set by the ICA ($312 million); therefore a review is automatically required.
"I only approve applications where the investor demonstrates that its investment is likely to be of net benefit to Canada.
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