Superior Plus Corp T.SPB

3rd Party Transactions

[Schussing56]

Still, I don't see much correlation between the ARC situation and what is happening between Superior and Certarus. The only third party involved in the Superior/Certarus deal appears to be ERCO Worldwide Holdings who are handling a bond issuance for Superior's Specialty Chemicals business worth about $126 million (I think it's part of the dissolution of that business for Superior). Otherwise, as I've mentioned before, Marquard & Bahls owns about 10% of Superior's common shares and Brookfield Asset Management invested $360 million in Superior in exchange for preferred shares that pay a dividend of 7.25%. The shares are also convertible to common shares. Brookfield also gets to put someone of their choosing on Superios's board of directors which could be why the DRIP was suspended and why Superior is changing to a quartely payout as opposed to monthly. I can't see any evidence of 3rd party involvement from the Certarus side.

[Baystboy07]

longbow capital is the controling shareholder of Certarus..maybe under 10% reporting threshold but they still have a ton of shares that will need to clear the market...it is exactly the same situation.

[bttmfischer]

Controlling interest by holding 10% How can that be?  Marquard and Bahls have well over 16%, and the ONLY REASON they are allowed to have it, because Brookfield also has over 10%, which prevents M&B from having a controlling interest. 

[bttmfischer]

What you are saying makes sense; however Marquard and Bahls owned 18.1 percent of Superior Plus' common sharesat the end of 2022. I suspect they may have been buying more since that time. What their current percentage of SPB shares is, hard to say. They did not sell any SPB shares, as far as I am aware. If someone asked about M&B's percent of ownership during the "virtual"

[bttmfischer]

Since 2020 Brookfield has a  member on Superior's Board. His name is Angelo Rufino. That means Brookfield is well apprised of any matrial decisions that board makes.