British speciality chemicals group Croda will sell most of its performance technologies and industrial chemicals division to commodities group Cargill Inc in a $1 billion deal, it said on Wednesday.

Croda is selling the majority of the business for an enterprise value of 915 million euros ($1 billion) on a cash-free, debt-free basis, it said.

The business raked in 470 million pounds ($626 million) in revenue last year.

Read more/Source: Reuters