&lt;NOVA> WINS GOVERNMENT OKAY FOR HUSKY &lt;HYO> DEAL

  Nova, the Canadian company that
  owns 56 pct of Husky Oil Ltd, said it received government
  approval for a transaction under which &lt;Union Faith Canada
  Holding Ltd> would buy a 43 pct stake in Husky.
      Nova said the Minister of Regional and Industrial
  Expansion, Michel Cote, ruled that Union Faith's purchase of
  the Husky stake would not result in Husky ceding control to a
  non-Canadian company. It said this ruling was a key condition
  in completing the deal.
      Union Faith is equally owned by &lt;Hutchison Whampoa Ltd> and
  &lt;Hong Kong Electric Holdings Ltd>.
      Under the agreement with Union Faith, Husky will become a
  private company with Union Faith and Nova each holding 43 pct
  of its stock.
      Nine pct of Husky would be owned by relatives of Li
  Ka-Shing, chairman of Hutchison, and five pct by the Canadian
  Imperial Bank of Commerice.
  

