Adolfo Utor, owner of Baleària, reveals 5.4% stake in Prisa
The businessman had a smaller share, which exceeded 5% after converting the bonds of the previous issue.
Owner of the shipping company Baleària, Adolfo Uthor5.4% shares in the capital of Prisa, the business group that owns A country and Cadena Ser, in the CNMV notification.
The businessman already had a minority stake and exceeded the 5% threshold, which requires national entrepreneurs to notify of their presence in the capital company after it resorted to the latest convertible bond issue, which the company launched this year to continue reducing its large debt. The package is valued at market prices at 22 million euros.
As reported by the local Valencian press, the businessman becomes a shareholder of the company with “the calling of permanence” and without any intention of applying for a position on the board of the media group.
In recent years, the businessman’s wealth has increased thanks to the good management of Baleària after the pandemic, when he lost 50% of his passengers, a moment which he took advantage of to acquire from the Matutes family the part of the company that he did not control (42.5% of shares).
The company earned €40 million in 2023 and continued to invest in expanding its ferry lines, especially routes to North Africa. Passenger numbers topped five million in the last financial year.
Utor was born in Al Hoceima (Morocco) in 1961, but soon moved to Denia, where he began his career. The manager was an active member of the PSPV (Socialist Party of Valencia) and is believed to be close to the Socialist Party, although his focus has been on business for many years.