The Supervisory board of the Privatization Agency (AP) terminated the sell-off procedure for the Bobov Dol thermal power plant over a conflict of interests, board chairman Teodor Stoev said on Tuesday. Yanko Ivanov executive director of Corporate Bank the investment intermediary picked by the PA executive board to handle the sell-off also sits on the Bobov Dol board of directors, Stoev said. The sell-off regulator rejected ten days ago the agency contracts for the privatization of Bobov Dol and the Vratsa district heating company saying the proposed bourse sell-off format was not workable and must be discarded. Under pressure from PA executive director Iliya Vassilev the Supervisory Board revised the decision only to reiterate it on Tuesday. Stoev said there was nothing wrong with the bourse sell off format as long as the future owner was made to undertake certain post-privatization commitments. A working group set up by the ministries of economy and energy, the PA and the two biggest domestic trade unions will decide whether the power plant will be privatized through a competitive bidding procedure or a bourse sell-off.