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Government of Canada Awards Contract for the Review of Atomic Energy of Canada Limited


Ottawa –The Government of Canada today is taking another step in the commitment it undertook last year to evaluate the structure of Atomic Energy of Canada Limited (AECL) by announcing that National Bank Financial Inc. has been selected to provide the outside expertise needed to complete the review.

The selection of National Bank Financial Inc. was made through a competitive bidding process managed by Public Works and Government Services Canada. The company is a wholly owned subsidiary of the National Bank of Canada and recognized for its experience in this type of corporate review. The review of AECL is being led by Natural Resources Canada (NRCan), with the support of the Department of Finance and the full collaboration of AECL.

“We need to set a clear, long-term strategic direction for AECL. This review will give us the information we need to determine the best course of action,” said the Honourable Gary Lunn, Minister of Natural Resources. “As part of our commitment to good governance and responsible management, the review will examine all the possibilities for AECL, including the status quo.”

The contract to National Bank Financial Inc. is for $1.46 million. This procurement was sourced through limited tendering because of the commercial confidentiality requirement. A source list was established in consultation with Natural Resources Canada, based on a list of 25 top-ranked investment banking institutions.

NRCan’s AECL Review is expected to take some months before the government can be in a position to make a decision.


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