June 19, 2019

Femi Otedola announces his exit from Forte Oil

Femi Otedola announces his exit from Forte Oil
Billionaire businessman, Femi Otedola has announced his exit from Forte Oil.

This comes months after he informed the public that he would sell his shares to Prudent Energy, a local oil trading firm.

Otedola, who was the Chairman and majority shareholder of Forte Oil Plc until recently, revealed on Instagram that he has sold his 75% stake in the oil marketing company and will now focus on his power generation business, Geregu Power Plc. He went on to wish his successors at Forte Oil "the very best".

He wrote on IG:

A few years ago, my team and I embarked on an arduous task of transforming a moribund petroleum marketing business, African Petroleum Plc (formerly British Petroleum) into Forte Oil Plc; a leading integrated solutions provider with solid footprints in downstream petroleum marketing, Upstream Services and Power Generation and one in which we built intrinsic value to the benefits of our shareholders. In line with my principle of business focus, we have divested from our marketing and upstream businesses and shall from now on focus and consolidate on the gains of our power generation business, Geregu Power Plc. We wish our successors the very best and urge them to build on our legacies which have been established since 1964 ?? ...F.Ote?

Femi Otedola announces his exit from Forte Oil

Mr Otedola has also edited his Instagram bio to reflect the change.

Femi Otedola announces his exit from Forte Oil





Buy Emma a drink with PAYPAL if you like this post.

Like Our Facebook Page:

0 comments:

Post a Comment

Use The Box Below to Drop your Comment and Don't Spam

Go To Top Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 Unported License. Afrigator