Century Petroleum Corp (CYPE)

[Jayman5000]

That's all pure conjecture at this point. But thank you for the opinion.

Isn't it also quite possible that he wants a nice smooth merger that benefits both the cement business as well as investors going forward, and not just himself? That sure is what it sounds like from seeing some quotes.

Dr. Cletus M. Ibeto, who had already taken over as Chairman of the Board of Directors, said: “It has been a long journey since I have been in business and none of our companies or businesses has gone public so far. In line with our collective dreams to place Nigeria in its rightful place in the comity of nations, we had to come up with a strategy to build a formidable structure for companies that will outlive me.”

He lauded stakeholders in the historic merger, including the government, shareholders, investors, and the larger Nigerian society for this landmark development, which will improve the level of actualisation of the huge cement business opportunities around Africa.

“Everybody knows that Ibeto Group has billions of dollar investments in Nigeria; but the time has come to replicate the successes we have enjoyed in Africa and globally. Century Petroleum Corporation is the vehicle for using our wealth of experience for the benefit of people within and beyond Africa.

“We will use it as a catalyst of empowerment for all Nigerians the world over as the company’s shares will be traded internationally,” he further said.

-The Guardian

Unless one was a mind reader one could not possibly know what Ibeto has in store for CYPE. Maybe he goes back on what he has said and screws his investors. Then again, maybe he already has enough money to truly be magnanimous in his business dealings. He seems quite proud of being the first Nigerians that will be trading in the U.S.; starting it off by screwing all his investors for pure self-enrichment would certainly put a dark mark on that.