Toronto-based Brookfield Asset Management announced plans to purchase of $260 million of newly issued preferred stock of a U.S. subsidiary of Superior Plus Corp.
Superior operates two businesses. An energy distribution unit includes distribution of propane and distillates, while a specialty chemicals unit includes the production and sale of specialty chemicals.
The investment was made on a private placement basis and is expected to help Superior position for future growth and reduce leverage on its balance sheet.
“We are pleased to partner with Superior as they continue to executive on their . . .
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