West China Cement's (HKG:2233) subsidiary WIH Cement Developing agreed to acquire 1,574,904 shares of Cimenterie de Lukala for $3.7 million from four Sweden-incorporated subsidiaries of Heidelberg Materials.

The purchaser further agreed to take on Target's outstanding liabilities from Heidelberg Materials and Scancem International for $116.0 million, a Monday Hong Kong bourse filing said.

The total acquisition cost will become $119.7 million and the purchaser will source it through its internal resources or bank borrowings.