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Friday, January 16, 2015

ABP divests from Indian company over nuclear weapon allegations

INS ArihantThe €334bn civil service scheme ABP has divested its €20m stake in India’s Larsen & Toubro after the company allegedly failed to clarify its involvement in the manufacture of submarines with the ability to carry nuclear weapons.

In the pension fund’s opinion, the company failed to respond adequately to allegations of direct involvement in the manufacture of nuclear weapons in defiance of the Non-Proliferation Treaty (NPT).

Last April, ABP stated that Larsen & Toubro did not manufacture tailor-made products for nuclear arms systems, and therefore did not violate the NPT definition.

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