Florida State Board of Administration, Tallahassee, identified stock holdings with a combined value of $915 million consisting of Total SA, Royal Dutch Shell PLC and 15 other companies that are subject to divestment, according to a new report by the board.
A statute enacted last year requires the FSBA to divest assets of the Florida Retirement System with ties to Sudan or the Iran energy sector by Sept. 18. U.S. companies arent affected by the statute. The FSBA oversees a total of $184 billion, including the $131 billion FRS. Total was the largest prohibited investment holding as of March 25, valued at $204 million. Royal Dutch ranked second with a value of $192 million.
The FSBA has not completely divested stock of any prohibited company, although some shares in Total, Royal Dutch and other affected companies have been sold as of March 12, according to the report.