Business and Commercial: First Nations group set to buy pipeline

A group of Indigenous Canadians is poised to buy the majority of the Trans Canada pipeline. This recent business and commercial news coming out of Canada is likely to see an offer on the table of $6.8 billion for the pipeline the principles of which the group says are in keeping with its goals. The First Nations group is calling all indigenous groups to band together in a bid to purchase the pipeline.

A spokesperson said the group has already spoken at length with other First Nations groups, investment banks and oil companies to get to the next step in the purchase process. The project is being led by the former chief of the Thunderchild First Nation. But as much as the group wants to purchase the pipeline, federal Finance Minister Bill Morneau said there won't be any formal negotiations until it is ascertained that expansion plans pose no risk to the pipeline the government bought last summer for $4.5 billion.

Indigenous groups that will be affected by the purchase have been in court-ordered talks, which are expected to end this May. Once those talks are complete, the matter can head to Ottawa for approval. First Nations has a goal for the pipeline to work for the benefit of all Canadians and wants the deal to move forward on a commercial basis.

High level business and commercial transactions in Canada, such as the purchase of an oil pipeline, can be incredibly complex and are likely to need the assistance of a lawyer experienced in business law. A lawyer would be able to sort out those issues which may cause contention and work with clients to remedy them. Corporate law can be confusing and it is best to err on the side of caution before proceeding with any major financial outlay.

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