Potamiro Limited made a bid to acquire 12.51% stake of Sofia Hotel Balkan AD (BUL:3ZB) from Kokari Limited and others for BGL 0.36 million on July 2, 2020. Under the bid, Potamiro Limited will acquire 0.03 million shares at an offer price of BGL 10.52 per share. As of November 11, 2020, Potamiro increased the offer price from BGL 10.52 per share to BGL 11.84 per share for a total deal value of BGL 0.41 million. The Potamiro already owned 87.49% stake in Sofia Hotel through wholly owned subsidiary Bandola Properties. The transaction is filled with Commission for Protection of Competition. As of August 12, 2020, The transaction is approved by Commission for Protection of Competition. As of November 25, 2020, Bulgaria's Financial Supervision Commission approved the transaction.