December 20, 2016 / 12:37 PM / 2 years ago

PRESS DIGEST- Canada - Dec 20

Dec 20 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** Calgary police are investigating a targeted attack after a prominent real estate developer was injured in a shooting that erupted in a wealthy neighbourhood on Monday. Riaz Mamdani, chief executive of Strategic Group, owner of several residential and commercial buildings in the city, was taken to hospital after multiple shots pierced the windshield of a late-model Rolls Royce he was driving.

** Canadian owners of diesel-equipped vehicles made by Volkswagen AG will share up to C$2.1 billion ($1.57 billion) in compensation and be able to sell their cars back to the automaker under a proposed settlement of a class-action lawsuit.


** Prem Watsa, Canada's Warren Buffett, is significantly expanding the reach of insurer Fairfax Financial Holdings Ltd in the United States with his largest deal - a $4.9 billion cash and stock acquisition of Allied World Assurance Co . Watsa said he viewed the purchase as a bet on economic growth under U.S. President-elect Donald Trump and Republican majorities in Congress.

** A little history is anticipated to be made this week when Canada's first special purpose acquisition company (SPAC) is expected to receive approval from its shareholders for its qualifying transaction. On Tuesday, Acasta Enterprises Inc , will hold a vote by its shareholders on the plan to buy three privately held businesses, two of which are in consumer products.

** Xplornet Communications Inc, a rural broadband provider, celebrated the successful launch of a new satellite EchoStar XIX from Cape Canaveral Air Force Station in Florida on Sunday, a move which can improve internet access for rural Canadians. ($1 = 1.3417 Canadian dollars) (Compiled by Kanishka Singh in Bengaluru)

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