Categories: Business

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.

Source link

Admin

Share
Published by
Admin

Recent Posts

European stock markets open without a clear trend. Election Day in the USA

He DAX slightly inferior 19,160.65 points, FT-100 falls to 8179.68 points, CAC 40 rises above…

28 seconds ago

Find out about the changes coming to your iPhone

The second beta version of iOS 18.2 is now available and includes changes to the…

4 mins ago

What time is Real Madrid – Milan? TV, schedule, where and how to watch the Champions League online today

Football returns to the Bernabeu. The Madrid temple opens its doors after his team lost…

5 mins ago

What can you choose? All new products at the moment

Winter is coming and it's time for frost and humidity. This is where the good…

50 mins ago

Kamala Harris ends her campaign in Philadelphia with an optimistic message: “Yes, she can”

In front of the ladder symbol of resistance, Kamala Harris ended her campaign this Monday…

53 mins ago

Oncologists demand gender differentiation in lung cancer clinical trials

Head of the Department of Oncology at the University Hospital of La Paz and vice-president…

55 mins ago