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(Bloomberg) – Axa SA, France’s largest insurer, said it will stop investing in tobacco and divest all of its 1.8 billion euros ($2 billion) of assets in the industry.

The Paris-based company will sell 200 million euros of stock in tobacco companies and run off its bond holdings in the industry, valued at about 1.6 billion euros, the company said in a statement on its website Monday. It didn’t say which tobacco company stocks it holds.

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