Shares of PQ Group Holdings Inc. /zigman2/quotes/203519556/composite PQG -2.11% were indicated up more than 7% in premarket trading Monday, after the specialty materials and chemicals company announced an agreement to sell its performance chemicals business for $1.1 billion to private investors Cerberus Capital Management L.P. and Koch Minerals & Trading LLC. PQ said its performance chemicals business produced sodium silicates, specialty silicas and zeolites. Cerberus and Koch said they formed a partnership to buy the business. The deal is expected to close this year. PQ's stock has rallied 17.5% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.92% has gained 4.1%.