Slovenia sells 91.58% of Adria Airways

The Republic of Slovenia has agreed to sell 91.58% of Adria Airways to Luxembourg-headquartered turnaround specialist 4K Invest for E100,000 (US$108,756), subject to regulatory clearances and other conditions. Slovenian Sovereign Holding (SSH) and Bad Asset Management (BAMC) hold the Adria Airways shares on behalf of the state. SSH and BAMC said they have signed a "share purchase and sale agreement" with 4K Invest, after the investor offered the best bid for the airline. "At the general meeting of shareholders of Adria Airway, Jan 19, 2016, this transaction was put into execution," they said. "The capital increase and the sale process are expected to be completed in the following few months." Under the deal, Adria Airways will undergo a E4.1m capital increase. <br/>