Unilever to Unify Legal Structure Under a Single Parent Company
June 11 2020 - 2:51AM
Dow Jones News
By Adria Calatayud
Unilever PLC said Thursday that it plans to unify its legal
structure under a single parent company, moving from its current
dual structure.
The Anglo-Dutch consumer-goods giant, which makes Dove soap and
Ben & Jerry's ice cream, said the unification will give it
greater strategic flexibility and remove complexity as it seeks to
accelerate the pace of portfolio change as part of an evaluation of
its categories and brands that began last year.
Unilever said having as much flexibility and responsiveness as
possible will be critically important in the business environment
created by the coronavirus pandemic.
The unification will be implemented through a cross-border
merger between Unilever PLC and Unilever NV, under which Unilever
NV shareholders will receive one new Unilever PLC share per each
share held, the company said.
"We remain committed to the Netherlands and the UK and there
will be no change to Unilever's footprint in either country as a
result of the proposed change to Unilever's legal parent
structure," Chairman Nils Andersen said.
The company's board expects Unilever to remain indexed on both
the AEX and FTSE UK exchanges.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
June 11, 2020 02:36 ET (06:36 GMT)
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