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Superior Plus Corp T.SPB

Alternate Symbol(s):  SUUIF

Superior Plus Corp. is a Canada-based distributor of propane, compressed natural gas, renewable energy and related products and services. Through its primary businesses, propane distribution and CNG, RNG and hydrogen distribution, it delivers clean burning fuels to residential, commercial, utility, agricultural and industrial customers. Its segments include U.S. Retail Propane Distribution (U.S. Propane), Canadian Retail Propane Distribution (Canadian Propane), North American Wholesale Propane Distribution (Wholesale Propane) and Certarus Ltd. (Certarus). The U.S. Propane segment distributes propane gas and liquid fuels primarily in the Eastern United States and California, as well as the Midwest to residential and commercial customers. The Canadian Propane segment distributes propane gas and liquid fuels across Canada to residential and commercial customers. The Wholesale Propane segment distributes propane gas and other natural gas liquids across Canada and the United States.


TSX:SPB - Post by User

Post by Schussing56on Apr 27, 2023 7:43am
646 Views
Post# 35416422

Superior Divestment

Superior DivestmentIf I had to hazard a guess, I think Marquard & Bahls realized they weren't going to be able to outright take over Superior. They were close to the 20% ownership legal limit for Canada and, with Brookfield on board, I don't think they wanted to end up in a bidding war. Still, they are losing more than Cdn $2 per share. That's a lot of money. Another thought that occurred to me is, Olaf Schulz was here (in Canada) last year and he signed a green energy deal with Trudeau but, those in the know have speculated that it is little more than a photo op for Trudeau and will never amount to anything. I think they talked about a completion date in 2025. Perhaps that helped scare off M&B? Anyway, it would be interesting to know who this secret investor is (private placement to an unknown buyer).
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