German turnaround fund 4K Invest has become the official majority shareholder and its representatives took over the flag carrier's supervisory board on Tuesday.

Four 4K invest nominees were appointed to the Adria Airways supervisory board at the extraordinary AGM on Tuesday as expected.

At the same time, 4K Invest has officially taken over the stake sold by the state for a token price of EUR 100,000, STA has learnt from unofficial sources.

The move comes after Adria was injected with EUR 4.1m in fresh capital as part of a recapitalise-and-sell procedure launched by the state in January. The German fund provided EUR 1m.

The Association of Small Shareholders expects that 4K invest, which now holds a 96% stake, will make a takeover offer for the outstanding Adria stock at one euro per share.