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

Staff writer |
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).

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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, Reuters reported.

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