Superior Plus Corp T.SPB

Superior Divestment

[Schussing56]

If 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).

[Shylock40]

Agree w/ this assessment, lost a fair bit paper wise yesterday but the resolve continues to be strong.. it takes time to find a willing buyer for a large lot of shares, M&B is moving on... SPB has a new CEO and a significant bolt on acquisition that presents challenges but we have seen this before w/ IPL, Brookfield will buy this puppy soon, just sit back and collect the div. Best of Luck to

[bttmfischer]

I respectful disagree. First, M&B had a very good year in 2021 and likely in 2022 as well, so there was no fiscal hardship, based on quarterly reports filed by them. Second, M&B never gave a hint that they planned to buy Superior. Third, since the agreement with Brookfield gave the right to purchase SBP shares at  a price of over $10 per share, it would actually help Brookfield, a

[pennydredful]

Shares  were  distributed   to   the public.   There   is   no  hidden   or  Mystery  buyer.   Presumably  the shares   were  offered   to  Brookfield   first    and   they   chose   not   to  buy 

[JosephM1]

? how would you know that, curious?

[pennydredful]

The  question   should  be  why   you  don't know.  

[JosephM1]

assume you do not know!   

[Schussing56]

From Cision Newswire - April 25, 2023: Marquard & Bahls AG ("M&B") announced today that it has, in a transaction that occurred on April 25, 2023, disposed of and ceased to have control over 13,000,000 common shares of Superior Plus Corp. (the "Company") via a private sale agreement, representing 6.48% of the issued and outstanding common shares,

[pennydredful]

I   was solicited   by   6  different   brokerage   firms   to   buy  shares   at   10.10  net.   The   difference   between  9.79   and   10.10    was  commission   to   brokers   .   

[JosephM1]

Hmmm,   CIBC and six other brokers, call BS on that!

[pennydredful]

CIBC , M Partners , Research  Capital, Hampton Securities, Acumen  ,RBC  Dominion

[Schussing56]

Here is a quote from Market Screener: An unknown buyer acquired 6.48% stake in Superior Plus Corp. (TSX:SPB) from Marquard & Bahls AG for approximately CAD 130 million on April 25, 2023. Marquard & Bahls sold stake through a private sale agreement at price of CAD 9.79 per share and a total consideration of CAD 127.27 million. The shareholder disposed of 13 million common shares of

[pennydredful]

The  seller  entered  an  agreement  with  CIBC  the  syndicate  lead  on  the  wide distribution  block   sale   not  to   sell   any   more   shares   for   60  days.   The   seller   sold   13 million

[pennydredful]

The   price   to  buyers   10.10   plus   comm.  according  to  the term  sheet.    The   difference  of  .31  was   in   effect    the    comm.    the seller    paid.

[pennydredful]

Market   Screener   statement   is  only   correct   if  it    says    unknown   buyers   NOT  buyer .

[JosephM1]

April 25, 2023: Marquard & Bahls AG ("M&B") announced today that it has, in a transaction that occurred on April 25, 2023, disposed of and ceased to have control over 13,000,000 common shares of Superior Plus Corp.  Funny, the sale was on the 25 april!   Close price on 25th april was 10.87!   Volume on 25th of april was  200k

[Schussing56]

Superior's board has even stated that they knew Marquard & Bahls' endgame was 100% ownership but, as I say, my comments are pure speculation. 

[bttmfischer]

Did Superior board memeber made a statement that they "knew that the end game was 100 percent ownership"? As I have more shares than every board member except one, I am somwhat surprised to hear this. Marquard&Bahls never publicly stated that the buying of Superior was part of their strategic plan. If you are certain of a statement made by any member of  Superior's Board, I

[Schussing56]

I believe Superior said something to the effect that they "knew it was coming" that M&B would be trying to get representation on the board, similiar to what Brookfield has. Other people think the same as me. Here is a quote from Canadian Investor: Last fall, Marquard & Bahls was shown to hold over 10% of Superior. Since that time they have taken their stake to basically