LB Group (SHE:002601), through unit Billions Europe, agreed to acquire Venator Materials UK's assets related to its titanium dioxide business for $69.9 million, according to a Friday disclosure on the Shenzhen bourse.

The assets, which are mainly in the U.K. and partially in Sweden, include land and buildings, machinery and equipment, spare parts, business records, intellectual property and inventories.

Venator Materials UK is a subsidiary of Venator Materials, a major titanium dioxide business in Europe and the U.S.

The Chinese high-performance titanium dioxide pigment manufacturer's shares rose less than 2% during morning trading.