 NEW YORK--BUSINESS WIRE--IFF NYSE: IFF today announced it has entered into an agreement to sell its Microbial Control business unit to LANXESS, a leading specialty chemicals company that develops, manufactures and markets chemical intermediates, additives, specialty chemicals and plastics. The transaction is valued at 1.3 billion and the cash proceeds net of taxes and expenses will be primarily used to reduce outstanding debt. Todays announcement is part of a strategic portfolio review a 