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The Bulgarian Privatisation Agency has agreed to sell 57% of fertilizer producer Chimco to US trading company IBE. Negotiations are continuing over necessary levels of investment in the plant and payment of Chimco's debts to Bulgargas. However, Agropolychim is facing liquidation to pay outstanding debts after a buyer failed to emerge. Norsk Hydro was originally tipped as a potential buyer, but has since decided not to proceed with the acquisition. Agropoychim's product units will be offered to creditors, including some $7m outstanding to sulphuric acid supplier Union Miniere, and even larger sums to gas supplier Bulgargas. IBE has also been mentioned as a possible purchaser of Agropolychim's nitrogen plant, although the company would not confirm this.