PHOENIX (AP) — The state of Arizona has sold off $93 million in Unilever bonds and plans to sell the remaining $50 million invested in the global consumer products company because subsidiary Ben & Jerry's stopped selling its ice cream in Israeli-occupied territories.
The move is the latest by states with anti-boycott laws. Arizona Treasurer Kimberly Yee announced the moves this week. They were mandated by a 2016 state law that bars Arizona government agencies from holding investments or doing business with any firm that boycotts Israel or its territories.
Ben & Jerry’s is run independently of Unilever and announced on July 19 that maintaining its presence in the occupied territories was “inconsistent with our values.”
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