Adria Airways Sold to German Fund as Part of Capital Hike

Flag carrier Adria Airways has been sold to German turnaround fund 4K Invest as part of a recapitalise and buy deal struck with state owners, according to the state sellers. Following successful negotiations, on behalf of the Republic of Slovenia and on their own behalf, Slovenian Sovereign Holding, together with Bad Asset Management Company, signed a Share Purchase and Sale Agreement for 91.58 % shareholding in Adria Airways.

The Contract includes a capital increase by the Republic of Slovenia in the amount of EUR 3.1 million and a capital increase by the buyer, 4K Invest, in the amount of EUR 1 million, and a purchase price for SSH, RS and BAMC in the amount of EUR 100,000.00 EUR. 4K Invest, one of the leading turnaround specialist in Europe, in addition to the paying-up of capital, will provide for the viability and the development of the Slovenian national airliner, and enable other long-term positive impacts.

Investment fund 4K Invest will enable Adria Airways to grow again and develop

4K Invest is a highly specialized fund that actively supports its companies in their return to profitability and independence from their former ownership. With more than 20 years of experience and nearly 200 successful turnaround transactions of the management and partner team, 4K Invest is the among the leading turnaround specialists in Europe.

According to the buyer, the new strategy of Adria Airways will be: stay focused on serving the Slovenian, Albanian, Kosovo and Macedonian market; fly modern aircraft, connect to the world via Star Alliance network. Adria airways will continue to be a „hybrid“ airline: scheduled service that attract business customers and offer favourable prices for tourists. The airline is expected to add more modern aircraft in order to grow its international network, according to the buyer. Adria Airways will continue to service its new market in Estonia.

4K Invest´s intention is to respect the proud tradition of safe flying with Adria Airways and let the airline grow again in order to ensure the passengers with comfortable, safe and affordable transportation, connecting the region to the world.

More information: https://www.adria.si/en/

Arhiv Novic
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