UC Asked to Divest Holdings Tied to Sudan

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From Times Staff and Wire Reports

Responding to concerns about the ongoing genocide in the Darfur region of Sudan, a committee of University of California regents Monday asked university officials to present a plan for UC divestment of holdings in four companies with business ties to the Sudanese government.

The committee on investments endorsed the motion by student Regent Adam Rosenthal, a UC Davis law student, to ask UC officials to come to the full Board of Regents in January with a divestment plan.

The regents would then have to approve any such proposal.

The businesses are the Chinese companies PetroChina and Sinopec, the Russian company Tatneft and Swiss-based ABB.