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Norway Excludes 17 Tobacco Companies From Oil Fund

Author: Vibeke Laroi, Josiane Kremer, BusinessWeek, Published on: 19 January 2010

Norway excluded 17 tobacco companies, including British American Tobacco Plc and Philip Morris International Inc., from its sovereign wealth fund based on ethical guidelines. Altria Group Inc., Japan Tobacco Inc., Reynolds American Inc., Swedish Match AB and Imperial Tobacco Group Plc, were also excluded and the shares have been sold, the Finance Ministry said...Souza Cruz SA, South Korea’s KT&G Corp., Universal Corp VA, Vector Group Ltd., Lorillard Inc. [part of Carolina Group] and Alliance One International Inc. were also excluded.

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Related companies: Alliance One Altria British American Tobacco Imperial Tobacco Lorillard Tobacco (part of Carolina Group) Reynolds American Souza Cruz (part of British American Tobacco) Universal Corporation