TK - Hold AD (BUL:T24) made an offer to acquire remaining 8.27% stake in Rilski Len AD (BUL:4OB) from INS GB OOD and others for BGN 0.4 million on August 10, 2017. Pursuant to the terms of offer, TK - Hold will pay BGN 11 per share for each remaining outstanding share of Rilski Len. Post-completion, TK - Hold will not make changes in Rilski Len's core activities and the Management Board. As of September 26, 2017, Bulgaria's financial regulator approved the deal. As of October 26, 2017, INS GB OOD sold 0.023 million shares held by it in Rilski Len. TK - Hold AD (BUL:T24) completed the acquisition of the remaining 8.27% stake in Rilski Len AD (BUL:4OB) from INS GB OOD and others on October 27, 2017. Under the offer, TK - Hold AD has acquired 0.02 million shares of Rilski Len AD, thereby increasing stake to 97.09% and as per Bulgarian law, can launch a squeeze out bid, which minority shareholders will be obliged to accept. TK-Hold is entitled to buy out shares from the rest of the shareholders of Rilski Len AD until January 25, 2018.