FMC Corp. has reached an agreement to sell its peroxygens business for $200 million to One Equity Partners, an arm of J.P. Morgan Chase & Co.

The deal is expected to close in early 2014 after regulatory reviews.

FMC, a Philadelphia chemical company, has said the business does not fit into its core product lines of crop protection, health and nutrition, alkali chemicals and lithium. - Bob Fernandez