The US state of New Jersey sells its interests in food group Unilever.
This is because of the earlier decision by Ben & Jerry's, which is part of Unilever, to stop selling ice cream in Israeli settlements in Palestinian territory.
Investments in Unilever clash with US state law that prohibits investment in companies that boycott Israel.
Therefore, USD 182 million (converted EUR 155 million) of Unilever shares and bonds held by pension funds will be divested.
For Ben & Jerry's, selling ice cream in the territories is not in line with the company's values.
The brand is owned by Unilever, but has extensive autonomy and an activist image.
Ben & Jerry's is known for its commitment to social justice.
The ice cream brand has recently championed the Black Lives Matter movement, LGBTQ+ rights and electoral finance reform.
The company was acquired by Unilever in 2000.
It was agreed in the purchase agreement that the company can operate more autonomously than other companies under the Unilever umbrella.
For example, an independent board has the power to decide on the company's social mission, brand integrity and policy.
Arizona said earlier this month that it would sell Unilever stakes for $143 million for reasons similar to New Jersey.
Unilever itself previously said it would not support the Boycott Divestment Sanctions movement that seeks to isolate Israel over its treatment of the Palestinians.Keywords: