Privilege Ibiza discotheque now belongs to Matutes

This finish with the legal dispute between the businessmen Matutes and Etxániz

Privilege Ibiza discotheque.

R.I.Ibiza23/06/22 12:04

Grupo Empresas Matutes has confirmed that it has bought the Privilege nightclub in Ibiza after years of legal battle with José María Extániz. In this sense, Grupo Empresas Matutes has confirmed that «after many years of litigation, Bahía de San Antonio S.A [company owned by Matutes] has acquired the shares owned by José María Etxániz of the company Baltanxa S.A, owner of the Privilege discotheque, within a judicial process». In this sense, they confirm that this summer the Privilege discotheque will not open its doors «since, after two years closed and without maintenance, the premises need to be refurbished». The total amount of this operation is unknown.

This acquisition comes after the Supreme Court has ratified a judgment of the Provincial Court which determined that Matutes could take over 55% of the shares of Privilege that were held by Etxániz at the price determined by an independent auditor appointed by the Commercial Registry, as stated in the company's bylaws.