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AXA to pull out of tobacco investments

May 23, 2016 6:35 AM ETAXA SA (AXAHY) StockBTI, MO, RAI, VGR, PM, LO, AXAHY, BTAFF, JAPAF, BATMF, JAPAYBy: Yoel Minkoff, SA News Editor40 Comments
  • It the latest setback for Big Tobacco, French insurer AXA (OTCQX:AXAHY) plans to stop investing in the industry, citing the impact of smoking on public health, and said it plans to sell its €1.8B of assets in the sector.
  • "With this divestment from tobacco, we are doing our share to support the efforts of governments around the world," incoming AXA Chief Executive Thomas Buberl said in a statement.
  • Tobacco stocks: LO, PM, MO, VGR, RAI, OTCQX:ITYBY, BTI, OTCPK:BTAFF, OTC:BATMF, OTCPK:JAPAF, OTCPK:JAPAY.

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