German chemicals company Celanese is reported to be having difficulties finding a buyer for its food ingredients company Nutrinova.

At least three parties are believed to have made bids for the business, but Celanese has failed to reach an agreement with potential buyers over the price, reported the Financial Times Deutschland.

Celanese decided to sell Nutrinova, which makes sweeteners and preservatives, back in 2003 because it did not fit with Celanese's product portfolio.