Mining giant Anglo American has agreed to sell its holding in joint venture Lafarge Tarmac to French partner Lafarge for up to $AU1.62 billion.

The deal is subject to several conditions, including the completion of Lafarge’s multi-billion-dollar merger with Swiss group Holcim, the London-listed group announced on Monday in a statement. Lafarge added that it plans to sell off the tarmac division once it gains full control, as part of divestments aimed at winning…