Canada to remove foreign investment limit on Nordion

The Canadian government will remove the 25 percent foreign investment cap on medical isotope provider Nordion Inc in cases that are deemed to be of net benefit to Canada, under legislation introduced on Friday. Currently, non-residents may not acquire more than 25 percent of Nordion's voting shares. "The removal of the foreign ownership restrictions will allow Nordion to access more investment capital, enabling it to better grow and create jobs, but is conditional on approval of a transaction under the Investment Canada Act." A spokeswoman for Nordion could not be immediately reached. Nordion shares were down slightly in Toronto and New York in late Friday trading.



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