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Adria Airways Tehnika Sold to Polish Company Linetech Holding, S.A

02/12/2015 by Aviation Times

With the payment of the purchase price and the transfer of shares, the sale of the 100 percent share of the company Adria Airways Tehnika, d. d. was successfully concluded. The buyer of the shares is the company Linetech Holding, S.A. of Poland, one of the fastest developing MRO companies in Eastern and Central Europe. Its plans mostly revolve around the growth and development of Adria Airways Tehnika, d.d., and the creation of new jobs.

Slovenski državni holding, d.d. (hereinafter: SDH) and Aerodrom Ljubljana, d.o.o. (owners of the company Adria Airways Tehnika, d.d.) have concluded a Share Purchase Agreement (hereinafter: SPA) for the company Adria Airways Tehnika, d.d. On the basis of a competitive bidding process, the company Linetech Holding S.A. of Poland was chosen as the buyer, since it gave the best offer for the 100 percent share of the company Adria Airways Tehnika, d. d.The sellers expect to receive the entire purchase price and transfer their shares to the buyer by Wednesday, November 25, 2015. The buyer has also concluded a contract with the sellers on the transfer and assumption of loan agreements which were approved by SDH and Aerodrom Ljubljana, d.o.o. for the company Adria Airways Tehnika, d.d. in 2012.

The owners SDH and Aerodrom Ljubljana, d.o.o. led a competitive and transparent two-stage bidding process with the objective to maximize the sale proceeds. At the same time they endeavored to find an owner for Adria Airways Tehnika, d.d. which would support and enable growth and development, and preserve its key functions in Slovenia and the world.

Marko Jazbec, president of the management board of SDH, had this to say as the SPA was concluded: “We are extremely satisfied with the outcome of the sale of the company Adria Airways Tehnika, d.d. We believe that the company has been given a new owner which will ensure its growth and further development, and will maintain good relations with all of the company stakeholders.” Zmago Skobir, the managing director of Aerodrom Ljubljana, d.o.o., expressed his satisfaction upon signing the transaction documents: “We have chosen a buyer that has convinced us with its past success and its plans for the future. We are pleased that the sale was concluded successfully and that the company has fallen into good hands.” Executive Director of Adria Airways Tehnika, d.d., Maksimiljan Pele, feels that the procedure was conducted correctly and welcomes the change: “All of the employees of Adria Airways Tehnika have been on edge for a long time, wondering what will happen and how. I am therefore pleased that the company has fallen into the hands of a successful MRO company, which I believe will strive for success and growth. I look forward to good cooperation and working towards a common goal.”

Piotr Kaczor, president of the management board of Linetech Holding, S.A. said: “We are proud to announce our acquisition of AAT. Subsequently, we aim to grow and develop AAT 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 intends to increase employment and expand training programs for new personnel. The group will have in total 6 heavy maintenance hangars, which allows us to concurrently service 13 different aircraft of code C classification, making Linetech Holding one of the leading MRO companies in Europe.”

Source: Adria Airways Technica