Schoenherr has advised the Slovenian Sovereign Holding, d.d. (SDH) and Aerodrom Ljubljana, d.o.o. on the sale of their combined 100 per cent equity stake in/privatisation of aircraft maintenance company Adria Airways Tehnika d.d. (AAT) to Poland-based Linetech Holding, S.A. (Linetech).
With a view to price maximization, SDH and Aerodrom conducted a competitive and transparent two-stage sales process in which Linetech was selected as the best bidder for the acquisition of AAT.
In addition to the (confidential) purchase price for AAT’s equity, Linetech also replaced the existing shareholder funding granted to the company by SDH and Aerodrom. The respective transaction documentation was signed in Ljubljana on 24 November 2015, with completion of the transaction occurring on the same date.
“We are pleased to having advised the Slovenian Sovereign Holding and Aerodrom Ljubljana on another successfully completed privatization process. After a slow start, the transaction gained enormous speed in the last couple of weeks, resulting in today’s simultaneous signing and closing as the crowning finale,” Schoenherr partner Marko Prušnik, who led the firm’s transaction team, said after the finalisation of the sales process.