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Norway oil fund could sell coal-related shares worth $6.6 bln
September 4, 2015 / 1:40 PM / 2 years ago

Norway oil fund could sell coal-related shares worth $6.6 bln

OSLO, Sept 4 (Reuters) - Norway's $828 billion sovereign wealth fund expects a new rule curtailing its investments in coal-dependent companies could lead to the sale of shares worth around 55 billion Norwegian crowns ($6.6 billion), it said on Friday.

Around 120 companies are likely to be affected, it said in a letter to the country's finance ministry.

Under a deal struck in parliament in June, the fund will divest from companies that get more than 30 percent of their turnover from coal, including both mining firms and power generators.

$1 = 8.3028 Norwegian crowns Reporting by Terje Solsvik; Editing by Pravin Char

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