BlackRock divests from Africa-Israel allegedly due to firm's involvement in West Bank settlement construction

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Article
27 August 2009

BlackRock does not wish to explain

Author: Erik Hagen, Norwatch

Norwatch wrote last week that the British fiduciary BlackRock had sold its investments...[in] Africa-Israel Investments, who participate in the building of the settlement Ma'aleh Adumim...Through the...banks Storebrand, Danica Pensjon and Skandiabanken, even Norwegian investors could participate in the British fund. But after the three banks made contact with BlackRock, the fiduciary has announced that they do not longer invest in the firm...something in this description is wrong, according to BlackRock...but it is not identified exactly what in the story is misleading..."The allegations made are untrue, as a fiduciary, we always act in the best interests of our clients...”, Emma Phillips, Vice President Corporate Communications, wrote in an email to Norwatch. But it is not possible to ascertain exactly what they believe is wrong.

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Article
26 August 2009

BlackRock denies politics played role in Africa-Israel sale

Author: Adi Ben-Israel, Globes [Israel]

UK investment firm BlackRock...denied reports by..."Norwatch" that it sold its stake in Africa-Israel Investments...because of the company's activity in the West Bank...building homes in Maaleh Adumim...BlackRock did not deny that it had sold its shares in Africa-Israel, controlled by chairman Lev Leviev, but rejected the reasons attributed to the sale. [also refers to Storebrand, Skandiabanken, Danica Pensjon]

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Article
20 August 2009

BlackRock Divests from the West Bank

Author: Erik Hagen, Norwatch

The British bank BlackRock has divested from Lev Leviev settlement projects on West Bank. The divestment follows pressure by three Norwegian banks marketing BlackRock funds...the British Embassy in Tel Aviv...[refrained from] occupying a building owned by...Africa-Israel Investments...[because] the company was also responsible for settlements on the occupied West Bank. Africa-Israel Investments' main owner is...Lev Leviev. Now the UK bank BlackRock has followed in the footsteps of the ambassador...The construction of settlements on occupied Palestinian territory is in conflict with international law...It is not known whether BlackRock dropped the investment of financial or ethical reasons. [also refers to Storebrand, Skandiabanken, Danica Pensjon]

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