Majority Share Takeover of Adria Airways d.d. Completed
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4K Invest, a Luxembourg based investment fund, has completed the majority takeover of ADRIA AIRWAYS Slovenski letalski prevoznik, d.d.
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On March 15, 2016, 4K Invest, through its subsidiary company AA International Aviation Holding GmbH, has acquired 96% of the shares of Adria Airways, an international airline with headquarters in Ljubljana, Slovenia. Adria Airways is member of Star Alliance, the world’s leading alliance of premium airlines.
4K Invest intends to acquire the outstanding shares to obtain 100% of the shares in Adria Airways. During the next days a takeover offer will be made to the other shareholders.
The sale was executed by two entities of the Republic of Slovenia. RS is undergoing a privatization program under which it had made a public offer of the shares with the aim to secure professional management and ownership for Adria Airways. In this process 4K Invest was chosen as the best future owner.
4K Invest will install Dr. Arno Schuster, as new board member. Adria Airways will continue to serve the markets of Slovenia, Albania, Kosovo and Macedonia, connecting these countries with the world through the Star Alliance network. It intends also to grow in Estonia, a new market it entered in November 2015.
Adria Airways plans to be profitable in 2016. Its fleet will mainly consist of modern jets from the Canadian manufacturer Bombardier. Several Bombardier jets will be added during the course of this year, mainly to serve the new destinations in and from Estonia.
Dr. Arno Schuster: “Adria Airways will make good connections available for business customers and offer attractive ticket prices for tourists“. The airline has a strong tradition of safe flying and possesses an experienced crew and staff.
About Adria Airways: Adria Airways has been founded in 1961. It became a member of Star Alliance in 2004. Adria Airways employs ca. 420 people, of which 58 are Captains and 60 are First Officers. In 2015, it generated sales of around € 150 Million.
About 4K Invest: 4K Invest is a leading European restructuring funds registered in Luxemburg and managed out of Munich by an experienced team.
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