JasonScoolari:
Even Otedola is feeling the heat from this useless administration. It was not so during the time of GEJ.

Just see a whole Femi selling his property.


I pray he puts DJ Cuppy up for sale at any online stores, I might consider buying her.

NO free money for anymore even if you see it's hard unlike when jona was doing Baza..

Sirheny007:
Sounds like someone is gonna file for bankruptcy...

You're a badbelle period!

Dude would he investing in the refining and petrochemical industry. This is clearly stated in the press release. This seems like the end of the road for Forte Oil though. If Diamond bank could not find an investor when the largest shareholder pulled out, there's no way a downstream operator like Forte Oil would find one, with Dangote refinery in view.

This isn't about being broke. Smart businessmen use their commonsense all the time. They don't choke themselves on nonviable inheritance and properties. Only the poor hang on to their late great grandparent's property even while they can barely feed. Sell and acquire are the two main themes of business people.

Why will he not sell his shares in forte oil and move to build Refinery when a whole minister of information said the Federal Republic of Nigeria is folding its hands, doing nothing and just waiting for Dangote refinery to come on stream.

A wise man will want to explore that option also, knowing fully well that he has been into oil and gas for years. Otedola will not want to seat back and watch dangote rule Nigeria in refining alone.

The guy is just a smart business man.

Otedola is not broke. He didn't sell forte oil. He sold 75 of his shares in the downstream segment and he is looking to reinvest in petrochemical and refining. Meaning he sold the downstream segment of his company to get enough money to go into refining crude. Smart man. Refining is the new source of oil money

abbey621:
Are people stupid or what? Selling shares does not mean you are going bankrupt or broke, the rich are always investing and divesting!

People should take time to read and understand.

The letter clearly states that he's divesting to refining and petrochemicals.

AdesegunSanni89:
wrong comparison. Amazon and Forte oil are into different kinds of businesses, so factor that in before you compare apples and yam

They are both publicly traded companies , same rules apply

abbey621:


Do you know how many companies Bezos, Gates and so on have shares in? Take Warren Buffet for instance, he has divested from more companies than all the top 10 Billionaires combined and he never went bankrupt. The point is simple, if you own a company that is worth 100 Billion and you have someone willing to pay times 2 or 3 of the amount, sometimes it is better to take the deal and build 3 separate companies especially when you see another sector with better potential.

lol nobody is going to buy forte oil for 2 or 3 times the amount. Usually when liquidating shares of this size they will be sold at a fraction of the cost.

Also Bezos may have shares in multiple companies but Amazon is his meaning he has the largest amount of shares. when a majority share holder of a public company liquidates his shares , its never a good thing. Time will tell...

I told Oga at the Top not to allow Oga Otedollar contest so he can focus on taking advantage of the Oil and Gas sector in Africa not sell his shares.Anyway he is welcome to buy shares in Dang-Ote at least he now knows he got some percentage already.

JasonScoolari:

I pray he puts DJ Cuppy up for sale at any online stores, I might consider buying her.

lol so you might? ?

JasonScoolari:
Even Otedola is feeling the heat from this useless administration. It was not so during the time of GEJ.

You're supposed to buy low and sell high, that's how you make money in the stock market. He bought when the price was low, and is now selling because the stock prices have skyrocketed under this administration. You guys are truly hopeless at life. You comment even when you don't understand, complete fools. YOu won't last a minute in the stock market 'cause you'll probably think every chart movement is influenced by "this administration" NPC's

AnthonyAk:


They are both publicly traded companies , same rules apply

i won’t waste my time to argue with you. The fact that they are both publicly qouted doesn’t mean their modus operandi must be the same.

Tabiste:
Okay tell him I am not Interested

fake

Dangote is about to reorganize the whole oil and gas sector in Nigeria and as a sharp guy he wants to be at the very table. The next big move is around the corner. If he fails to make this decisive generation changing move he would wish he had been part of it. A move that would triple his present worth. A tide is coming soon and he is simply preparing to flow along. A similar tide favoured John D Rockefeller. Kind of a last chance to really cash out b4 the world moves on to something other than fossil fuel.

dante0147:
Some people on here are just block heads... He says he is selling is shares in the down stream sector of his company and not upstream, midstream.... to explore and maxise in refining and petrochemicals... HE MAY BE trying to build an oil refinery....

interesting

but will he now compete with dangote if he is building his refinery?

What is more likely is that he wants to buy into Dangote refinery.

That's my thoughts sha

AnthonyAk:


lol nobody is going to buy forte oil for 2 or 3 times the amount. Usually when liquidating shares of this size they will be sold at a fraction of the cost.

Also Bezos may have shares in multiple companies but Amazon is his meaning he has the largest amount of shares. when a majority share holder of a public company liquidates his shares , its never a good thing. Time will tell...

You are operating on assumptions, historically in cases like this you POV is wrong more than right, case in point:

1. Google & Motorola
2.Facebook & Whatsapp
3.Facebook & Instagram
4. Oracle & Peoplesoft
5. IBM & Redhat

These companies were far larger than Forte Oil and they sold for huge profits. Like I said earlier sometimes it just makes sense to sell e.g new business opportunity, eliminate competition etc.

simple analogy and logic....he wants to sell to reinvest all in dangote refinery....
principle of success.

Sirheny007:
Sounds like someone is gonna file for bankruptcy...

See the way you are celebrating a man downfall. Na WA for black men o .

AdesegunSanni89:
wrong comparison. Amazon and Forte oil are into different kinds of businesses, so factor that in before you compare apples and yam

Stupid ITK, stock investments are the same regardless of underlying business.

CilicMarin:
This man has been "broke" for some years now...Only if you knew .

broke but still richer than everything you represent 1 million times over....

JasonScoolari:
Even Otedola is feeling the heat from this useless administration. It was not so during the time of GEJ.

Just see a whole Femi selling his property.


I pray he puts DJ Cuppy up for sale at any online stores, I might consider buying her.

you no see the part when say he wan pursue him interest in petrochemicals abi.... Who know whether he wan build refinery

Built2last:
Buhariiiiii

That's the end of Forte oil. 75% sell of share is the end of the company

Not a Buhari supporter but you are an "Olodo". It is Femi Otedola that is selling his shares. It's not Forte oil that is selling it. It simply mean that the 75% share would be transferred or sold to a different individual or entities. There would be new owners. The company remain the same except for changes in the boardroom.

generalwo:
you no see the part when say he wan pursue him interest in petrochemicals abi.... Who know whether he wan build refinery

I guess he is getting ready for Dangote Refinery. Maybe he will be buying a stake in the refinery. I guess he and Dangote are pals, and probably business partners. I have seen him visit the refinery site with Dangote.

Ever since the blowout on their subsidy scam he's been living on a sinking ship, losing money like crazy.

That's one thing I like about this government; the economic crooks are feeling the heat so much they convinced the zombies and pigs that everyone is suffering.

He says they want to focus on Petrochemicals and the Refining. I wonder if it's so he can take a stake in Dangote's refinery

abbey621:


You are operating on assumptions, historically in cases like this you POV is wrong more than right, case in point:

1. Google & Motorola
2.Facebook & Whatsapp
3.Facebook & Instagram
4. Oracle & Peoplesoft
5. IBM & Redhat

These companies were far larger than Forte Oil and they sold for huge profits. Like I said earlier sometimes it just makes sense to sell e.g new business opportunity, eliminate competition etc.

dude its christmas eve abeg , Merry Christmas

AnthonyAk:


dude its christmas eve abeg , Merry Christmas

Lol....Merry Christmas!

I'm seriously worried about the level of illiteracy on this forum. Or are these just kids having fun or what?

Getting ready to buy dangote refinery shares.

Tabiste:
Okay tell him I am not Interested

But You're interested in scamming People. Mtchewww.

JasonScoolari:
Even Otedola is feeling the heat from this useless administration. It was not so during the time of GEJ.

Just see a whole Femi selling his property.


I pray he puts DJ Cuppy up for sale at any online stores, I might consider buying her.

DJ Cuppy is not for sale bro

Bimpe29:

DJ Cuppy is not for sale bro

I never said she was. Abi you sef dey eye the girl?