UC divests stock holdings tied to Sudan

March 8, 2007 (LOS ANGELES, Calif.) — University of California officials say they have divested at least half of the stock that the system holds in companies with ties to the Sudan.

The UC system’s governing Board of Regents voted last year to divest from nine companies in protest of the humanitarian crisis in the country’s Darfur region.

In a report given to regents Tuesday in Los Angeles, UC officials said they have identified $14.5 million that needs to be divested and have sold off about half of that so far.

‘We are on top of this,’ UC Treasurer Marie Berggren said at the meeting of the board’s Committee on Investments.

Students urged UC managers to sell off the stock soon.

University officials say it takes time to sell off large amounts of stock but they are moving as quickly as possible.

(AP)