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MDA space unit sale needs two approvals - minister

Wed Apr 9, 2008 10:08pm IST
 
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OTTAWA, April 9 (Reuters) - The sale of MacDonald Dettwiler and Associates Ltd's (MDA.TO: Quote, Profile, Research) space business requires approval from two cabinet ministers, Canadian Industry Minister Jim Prentice said on Wednesday.

MDA, based in Vancouver, British Columbia, is seeking permission to sell its space robotics and data-processing business to U.S.-based Alliant Techsystems Inc (ATK.N: Quote, Profile, Research).

Prentice said he would have to give approval under the Investment Canada Act, and if that were granted, then Foreign Affairs Minister Maxime Bernier would review the deal under remote-sensing legislation, Prentice said. (Reporting by Randall Palmer, writing by Lynne Olver; editing by Rob Wilson)

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