On paper, a majority stake in Retirement Concepts – believed to exceed $1-billion in value – is being sold to a Chinese-owned company called Cedar Tree Investment Canada. That is the deal that federal officials in Ottawa announced they had approved this week. However, Cedar Tree is the company that Anbang is using to make the acquisition.
NDP health critic Don Davies called the Anbang deal a “foreign takeover of vital health-care and seniors facilities” in B.C., and asked the Liberals whether the purchase was ever discussed at one of their cash-for-access fundraisers.
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