Bulgaria's Privatization and Post-Privatization Control Agency (PPCA) has terminated the procedure for the sale of military plant VMZ Sopot, according to PPCA Executive Director Emil Karanikolov.

In an interview for the Bulgarian National Radio (BNR), Karanikolov noted that the sole candidate to buy the state-owned arms manufacturer, EMKO EOOD, had submitted a binding offer by the deadline (3 p.m. on January 14) but had failed to transfer the EUR 3 M deposit for participation in the privatization procedure, Novinite reports.