Brazil Fund Previ Plans to Sell Souza Cruz Stake, Valor Reports

07/24/2009

Previ, the retirement fund for the workers at Banco do Brasil SA, plans to sell its 2 percent stake in Souza Cruz SA, Brazil's biggest tobacco company, this year, Valor Economico reported, citing Sergio Rosa, president of the fund. The stake is valued at about 380 million reais ($200 million), the newspaper said. The pension fund doesn't want to own shares in weapon and cigarette companies as part of its social responsibility policy, Valor said. Enditem