17.05.2016 - Norway sovereign wealth fund will seek to join class action against Volkswagen
Norway's $850 billion sovereign wealth fund will seek to join a class-action lawsuit in Germany against Volkswagen following revelations the carmaker rigged the exhaust systems of 11 million diesel-powered cars worldwide to pass official emissions tests. Norges Bank Investment Management “intends to join a legal action against Volkswagen arising out of that the company provided incorrect emissions data,” spokeswoman Marthe Skaar said in an e-mailed statement. NBIM manages the assets of Government Pension Fund Global, Oslo, which according to data compiled by Bloomberg owns 1.64% of Volkswagen. NBIM said it's acting “to safeguard” the sovereign wealth fund's holdings in the carmaker..............................................Full Article: Source
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