Industry Canada

Industry Canada

September 24, 2009 10:18 ET

Government of Canada to Review the Sale of Nortel Assets to Avaya Under the Investment Canada Act

OTTAWA, ONTARIO--(Marketwire - Sept. 24, 2009) - Today, the Honourable 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."

Contact Information

  • Office of the Honourable Tony Clement
    Minister of Industry
    Lynn Meahan - Press Secretary
    613-995-9001
    or
    Industry Canada
    Media Relations
    613-943-2502