PRESS DIGEST- Canada - August 5
Aug 5 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
THE GLOBE AND MAIL
** Publicly held GMP Capital Inc announced late Thursday that it is buying privately held FirstEnergy Capital Corp for C$98.6 million ($75.78 million). GMP will pay for the deal by issuing C$58.9 million ($45.27 million) in stock, that will be paid out to FirstEnergy shareholders over four years, and the balance through the issuance of an unsecured promissory note. (http://bit.ly/2b7EMeJ)
** Malaysia's state-owned Petronas says it expects to make up its mind about whether to construct a huge energy project in Canada after it studies a crucial ruling pending from the federal Liberal cabinet. (http://bit.ly/2b7Eq7S)
** With the dismissal of the chief executive of McInnis Cement, investors led by Bombardier Inc's founding family are hoping to get the C$1.1 billion ($845.37 million)cement project in Quebec's Gaspe peninsula back on track amid massive cost overruns. (http://bit.ly/2b7ExQO)
NATIONAL POST
** Veresen Inc plans to shift away from power generation in favor of tightening its focus on midstream natural gas assets, a decision that comes as the company's proposal to build a West Coast LNG export facility remains snared in regulatory delays. (http://bit.ly/2b7G9Kn)
** Two months after it avoided insolvency by selling assets in Saskatchewan, Penn West Petroleum Ltd plans to nearly double capital spending for the rest of the year. (http://bit.ly/2b7FHvA)
($1 = 1.3012 Canadian dollars) (Compiled by Shalini Nagarajan in Bengaluru)
