Norges Bank sells €96mn of Smurfit Kappa shares
The Norwegian central bank has reduced its stake in the company from 7% to 4.7%, following what chief executive Tony Smurfit described as ‘the most challenging year in recent memory’
Norges Bank, which manages the Norwegian national pension fund, sold off nearly €96 million-worth of shares in Smurfit Kappa last week, reducing its stake in the box maker to 4.7 per cent.
It is the third such reduction in Norges’s stake in the company in recent months, following the sale of nearly €165 million-worth of shares in March and April.
Norges has been one of the largest holders of Smurfit Kappa stock in recent years ...