The Superior Plus Corp. logo is seen in this undated handout photo. THE CANADIAN PRESS/HO, Superior Plus Corp.
CALGARY — Superior Plus Corp. has agreed to sell eight propane distribution hubs in northern Ontario to address the concerns of the Competition Bureau about its deal to buy Certarus Ltd.
The federal competition regulator had concluded that the transaction would likely result in a substantial lessening of competition for the retail supply of portable heating fuels — propane and natural gas — for industrial customers in northern Ontario.
The regulator said that in addition to being each other’s closest competitor, there is a limited number of alternative suppliers in the region and the barriers to entry are high.
In a consent agreement with the Competition Bureau, Superior Plus agreed to sell the distribution hubs, including customer contracts and associated operating assets at each location.
The sale will be made to an independent purchaser to be approved by the commissioner of competition.
Superior Plus announced its deal to buy Certarus, a privately owned distributor of compressed natural gas, renewable natural gas and hydrogen, in December 2022 in an agreement valued at $1.05 billion including debt.
This report by The Canadian Press was first published May 31, 2023.
Companies in this story: (TSX:SPB)
The Canadian Press
- 0015 Latus Viro0015 Latus Viro
- 0054 SIMSA Energy Forum0054 SIMSA Energy Forum
- 0053 Kingston Midstream Westspur Alameda0053 Kingston Midstream Westspur Alameda
- 0052 Predator Inspections0052 Predator Inspections
- 0051 JML Hiring Pumpjack assembly0051 JML Hiring Pumpjack assembly
- 0049 Scotsburn Dental soft guitar0049 Scotsburn Dental soft guitar
- 0046 City of Estevan This is Estevan0046 City of Estevan This is Estevan
- 0043 ALX ten sizes0043 ALX ten sizes
- 0039 Summit ESP Saskatchewan lower third0039 Summit ESP Saskatchewan lower third
- 0041 DEEP Since 2018 now we are going to build0041 DEEP Since 2018 now we are going to build
- 0032 IWS Summer hiring rock trailer music
- 0022 Grimes winter hiring
- 0021 OSY Rentals S8 Promo
- 0018 IWS Hiring Royal Summer
- 0013 Panther Drilling PO ad 03 top drive rigs
- 0011
- 0006 JK Junior
- 0004 Royal Helium PO Ad 02
- 9001
- 0002