MONTREAL - The Quebec government has unveiled its agreements with Canadian aluminium giant Alcan, three days after the group was the target of a 33 bln usd hostile takeover bid by American company Alcoa.
"Maintaining the integrity of these agreements is non-negotiable. The contract outlines Alcan's obligations which potential buyers must respect," the Quebec's Minister of Economic Development Raymond Bachand said.
With a duration of 35 years, the "continuity agreement" signed Dec 13, contains a number of clauses which call for the "maintenance in Quebec of significant operational, financial and strategic headquarters functions" comparable to those of Alcan at present.
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