Adria Airways (Ljubljana) majority shareholder and 4K Invest subsidiary, AA International Aviation Holding, says it has acquired the remaining 0.86% in outstanding Adria stock that it did not control originally.

The transaction, valued at EUR9,900 (USD10,800), now gives the German-run private equity firm full control of the carrier's shareholding.

According to the Slovenian Press Agency (STA), the move will allow for the further simplification of management which should translate into a more efficiently run company.

In January, 4K Invest won an international tender to assume control of the Slovenian national carrier as part of a government-backed privatization drive.