March 31, 2015 / 11:29 AM / 2 years ago

PRESS DIGEST- Canada - March 31

March 31 (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

** Ontario Finance Minister Charles Sousa, who will deliver a budget in the coming weeks, says he will beat his deficit target of C$12.5 billion ($9.81 billion) for the current fiscal year, helped in part by a lower Canadian dollar, reduced oil prices and the economic recovery in the United States. (bit.ly/1EY4vfN)

** The Canada Pension Plan Investment Board (CPPIB) and Hermes Infrastructure said they would buy a stake of at least 30 percent in Associated British Ports Holdings Ltd for about 1.6 billion pounds ($2.37 billion). The deal will allow the buyers to acquire a further 3.33 percent in Associated British Ports, depending on preemption rights. (bit.ly/1EY51dH)

** Canada's Eldorado Gold Corp is engaged in a tax-avoidance scheme that uses mailbox companies in the Netherlands to lower its tax load, a new report from a Dutch foundation says. The Centre for Research on Multinational Corporations made the claim in a detailed 116-page report called Fool's Gold. The report claims the scheme has cost the Greek government at least 1.7 million euros ($1.83 million) in revenue in the past two years. (bit.ly/1ae16BU)

NATIONAL POST

** Investors got excited at the prospect of a merger between Teck Resources Ltd and Antofagasta Plc on Monday, but any deal would likely require major compromises by the families in control of each company. A merger would create a dominant copper producer with more than 1 million tons of output per year, vaulting it into the top five producers worldwide. (bit.ly/1GbxbGe)

** Ontario government officials say it will not cover an C$85 million shortfall for the beleaguered C$2.78 billion Spadina subway extension. That means the City of Toronto will be on the hook for another C$51 million in addition to the C$90 million already being requested of it to help cover a C$150 million budget increase for the delayed project, according to a report written by city manager Joe Pennachetti. (bit.ly/1G2ZVm1)

** Junior oilsands producer Connacher Oil and Gas Ltd's plan to swap C$1 billion worth of debt for equity received both shareholder and debt holder approvals. The deal, subject to approvals at an Alberta court hearing, significantly reduces the junior oilsands producer's debt, which stands at roughly C$1.2 billion, according to year-end results posted last week, while also diluting the company's shares. (bit.ly/19w5ETo) ($1 = C$1.27) ($1 = 0.68 pounds) ($1 = 0.93 euros) (Compiled by Zara Mascarenhas in Bengaluru)

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