According to the call, published in the Financial Times last Friday, bids for the combined 100% shareholding in Adria Airways Tehnika are expected by midday on 25 May.

PDP, which owns 52.15%, and Aerodrom Ljubljana 47.85%, are selling the shares together, which means tenders for individual blocs of shares are not possible.

Prospective buyers will get access to only those data about Adria Airways Tehnika that has been made public online, while the seller is not assuming liability for the authenticity of the data.

Interested parties need to submit proof of the solvency of the tenderer in their tenders, in addition to the price offered and terms of payment. They also need to pay EUR 500,000 as a tender bond.

The decision on the most favourable tenderer will be issued within 30 days of the expiry of the deadline for the submission of tenders.

The sellers do not obligate themselves to enter into an agreement with any tenderer and may suspend the sale procedure until the conclusion of the legal transaction without explanation and without liability.

While Aerodrom Ljubljana would not comment on the decision to sell Adria Airways Tehnika, CEO of PDP Matej Golob Matzele only said that the procedure was due to ongoing talks on a potential sale or capital injection into the company.

Adria Airways Tehnika used to be a subsidiary of the Slovenian flag carrier Adria Airways, but financial difficulties forced the latter into an agreement in January 2011 under which Aerodrom Ljubljana converted its claims into an additional shareholding in Tehnika and withdrawing its lien on the remaining shares, which were bought by PDP to secure fresh capital for Adria Airways.

Adria Airways Tehnika entered serious financial difficulties this year following the bankruptcy of its second biggest client, Spanish airline Spanair, as well as Hungary's flag carrier Malev.

The company responded with a financial and operational restructuring plan and a pay cut agreement with the staff.