Canada Development Corporation
Canada Development Corporation, headquartered in Toronto, developed and maintained Canadian-controlled and -managed companies in the private sector. Created in 1971 through a special Act of Parliament, the CDC helped to widen the investment opportunities open to Canadians. Some 31 000 private shareholders invested in the corporation, and during its first decade CDC was able to acquire diversified assets. Major investments owned by CDC included holdings in petroleum, mines and petrochemicals. In 1986 the Corporation was dismantled as the Conservative government began privatizing many of its assets.