Degussa AG of Dusseldorf, Germany, has agreed to sell its food ingredients operations to Cargill (Minneapolis) for 540 million euros ($670 million). The transaction is still contingent on the approval of the Degussa Supervisory Board and the relevant regulatory authorities.

Degussa management board chairman Utz-Hellmuth Felcht states, “Food Ingredients are a strategically ideal fit for a strong global food industry player such as Cargill. We feel that we have placed these operations in good hands and are very satisfied with the transaction as a whole...”