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Article: United States: Florida board to divest from 2 firms over Iran links.
- Article from:
- TendersInfo
- Article date:
- October 31, 2009
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Byline: manish03
Florida State Board of Administration, Tallahassee, plans to divest Shell International Finance BV and Petrobras International Finance Co. in connection with their business activity in Iran, according to a new report by the board, which oversees $133.7 billion in assets.
Both companies, which were placed on the scrutinized status for divestment Oct. 27, are wholly owned subsidiaries of Royal Dutch Shell PLC and Petroleo Brasileiro, respectively. FSBA investments in both parent companies have been prohibited since 2007, and the board has divested its holdings in both firms, the report said.
FSBA has $1.15 million in Petrobras ...