May 28, 1984 (32nd Parliament, 2nd Session)

PC

Paul Wyatt Dick (Deputy House Leader of the Official Opposition; Progressive Conservative Party Deputy House Leader)

Progressive Conservative

Mr. Dick:

Mr. Speaker, when the Hon. Member was talking about Massey-Ferguson and referring to majority shareholders, was he aware that at the time that the largest shareholder owned only 17 per cent of Massey-Ferguson, it offered to invest more money if the Government wished to participate at the time? The Government refused to participate at the time and the only way they could get the Government to participate

May 28, 1984
Development Investment Corporations Act was if they themselves bowed out. They did not bow out by selling their shares. The largest shareholder at that time got out by giving its shares to the employee pension fund, thus making it possible for the Government to come in.

Topic:   GOVERNMENT ORDERS
Subtopic:   CANADA DEVELOPMENT INVESTMENT CORPORATIONS ACT
Full View