Company News

PRESS DIGEST- Canada- Aug 22

Aug 22 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** Canada's Pembina Pipeline Corp has agreed to buy Kinder Morgan Canada Ltd and the U.S. portion of a key condensate pipeline for C$4.35 billion ($3.27 billion) to bolster its position in the high-demand oil storage and transport business.

** Royal Bank of Canada is backing an upstart loyalty-management program geared at millennials called Drop Technologies Inc as part of a $44 million venture-capital financing.

** BMO Nesbitt Burns Inc and National Bank Financial Inc has together bought 10.1 million shares from Saputo Inc for $39.60 each, or about $400 million.

** The Ontario government is facing fresh criticism over its cannabis retail roll-out after a second lottery to award new store licenses led to clusters of winners in small areas and shut out established retailers.


** Trans Mountain Corp said on Wednesday that construction would re-start imminently on the Trans Mountain pipeline expansion and the project would be in service, delivering 590,000 barrels of oil per day from Alberta to the West Coast, by the middle of 2022.

$1 = 1.3292 Canadian dollars Compiled by Bengaluru newsroom