Agreement signed on the sale of 100 % equity stake in Adria Airways Tehnika, d. d.
Slovenian Sovereign Holding (hereinafter referred to as: SSH) and Aerodrom Ljubljana, d. o. o., today concluded agreement for the sale and purchase of the shares (hereinafter referred to as: SPA) of Adria Airways Tehnika, d. d. Buyer of the shares is Linetech Holding, S.A. from Poland. Sellers expect to receive the total consideration and complete the transfer of the shares to the buyer by 25 November 2015 at the latest.
Linetech Holding, S.A. has been selected as the buyer on the basis of the competitive sales process after submitting the best offer for 100 % equity stake of Adria Airways Tehnika, d. d., The buyer also entered into an agreement on the transfer and submission of loan agreements that SSH and Aerodrom Ljubljana, d. o. o., had granted to Adria Airways Tehnika, d. d., in 2012.
The sales process of 100 % shares of Adria Airways Tehnika, d. d. will thus be successfully completed after the payment of the total consideration and the transfer of the shares.
With a view of maximizing the total consideration, SSH and Aerodrom Ljubljana, d. o. o., conducted a competitive and transparent two-stage sales process. At the same time, they sought to ensure that Adria Airways Tehnika, d. d., be procured an owner which will support its growth and further development, as well as maintain its key functions in Slovenia.
Marko Jazbec, president of the management board of SSH upon entering into SPA said: »We are immensely pleased with the outcome of the sale process of Adria Airways Tehnika, d. d. We believe that company will obtain a new owner which will support its growth, further development and maintain good relations with all stakeholders of the company.«
Zmago Skobir, managing director of Aerodrom Ljubljana, d. o. o., expressed his satisfaction upon signing of the transaction documentation: »Aerodrom Ljubljana invested into Adria Airways Tehnika with clear objectives - to retain the maintenance and repair activities at Ljubljana Airport and to ensure a bolder future development of Adria Airways Tehnika. In the bidding process a recognized international provider was selected. We firmly believe that Adria Airways Tehnika, among users and experts known mostly for high professionalism of its employees, will be enriched by the new ownership. We are handing over the company with a solid base and high potential provided by the strategic location of Ljubljana Airport.«
Piotr Kaczor, president of the management board of Linetech Holding, S.A. said: “We are proud to announce our acquisition of Adria Airways Tehnika, d.d. Subsequently, we aim to grow and develop Adria Airways Tehnika, d.d. by investing in people, new technologies and equipment. Thanks to this merger our field of capabilities will become wider, enhancing support opportunities for the most popular aircraft types of: Boeing, Airbus, Bombardier, Embraer and ATR. Linetech Holding S.A. intends to increase employment and expand training programs for new personnel. The group will have in total 6 heavy maintenance hangars which will allow us to concurrently service 13 different aircraft of code C classification making Linetech Holding S.A. one of the leading MRO companies in Europe.«
Slovenski državni holding, d. d.
Aerodrom Ljubljana, d. o. o.
Linetech Holding, S.A.