Arizona sells Unilever bonds over Ben & Jerry’s Israel move
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.”
(Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.)