Investors sought for 75% share in Adria Airways

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Slovenia's capital assets management agency has formally invited investors to declare preliminary interest in a majority shareholding, nearly 75%, of flag-carrier Adria Airways.

Agencija za Upravljanje Kapitalskih Nalozb, which is representing the Slovenian government, is seeking non-binding expressions of interest in the stake.

Adria's share capital of €17.7 million ($21.6 million) is split into 17.7 million shares.

The government and a group of banks - among them Nova Ljubljanska Banka, Abanka Vipa, Hypo Alpe-Adria-Bank and the local branch of UniCredit - collectively own 99.87% of the carrier.

Under the public invitation some 13.2 million shares, representing 74.87%, of the Star Alliance airline are to be put up for sale.

AUKN states that an advisor to the sale, Barons Financial Services, is asking interested parties to submit written expressions of interest in order to receive further details.

It has set a deadline of 10 September for participation in this initial phase.