May 24, 2019 / 5:03 PM / 6 months ago

Norway's sovereign fund will no longer own stakes in cannabis firms

OSLO, May 24 (Reuters) - Norway’s sovereign wealth fund will no longer own stakes in companies with direct exposure to the cannabis industry, a spokesman for the fund’s manager, Norges Bank Investment Management (NBIM), said on Friday.

He declined to comment on whether the fund’s stakes in cannabis makers had already been sold.

According to Norwegian business daily Dagens Naeringsliv, which first reported the news, NBIM held stakes in at least five cannabis-related firms at the end of 2018, including Canopy Growth, Aphria, Scotts Miracle-Gro, Aurora Cannabis and INSYS Therapeutics. (Reporting by Terje Solsvik, editing by Louise Heavens)

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