4K Invest, the German firm which recently acquired a majority shareholding in Adria Airways (Ljubljana), has rejected reports in the Slovenian press claiming it to be a front for Iranian interests.
On Monday this week, the Siol.net news portal claimed to have obtained information and documents indicating that 4K Invest was actually a front for Iranian businessmen with projects all over Europe and the Middle East.
However, the firm refuted the claim in a communique stating that it, along with all of its subsidiaries, including AA International Holding, the parent company of Adria Airways, are completely owned by European investors, mostly German nationals.
"The responsible manager on the side of 4K Invest, who headed the negotiations with the Republic of Slovenia and its organizations, is Martin Vorderwuelbecke," it said. "Neither he nor any other managers of 4K Invest have any relations with Iran."
The German-run private equity firm ramped up its shareholding in Adria Airways to 96.09% last month following the acquisition of an 83.01% stake in the firm. It unveiled a formal offer to acquire the outstanding 3.91% stake or 298.702 shares in the carrier at EUR0.15 per share, or EUR45,000 (USD49,000) for the lot, this week. The offer stands until May 9.
