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Unilever plans switch to British holding company to cut complexity

  • 📰 Reuters
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

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Unilever to merge dual legal structure under single Britain-based parent

- Unilever proposed combining its Dutch and British legal entities in a single holding company based in Britain on Thursday, after shareholders sank an earlier plan to move the global consumer goods group’s headquarters to the Netherlands.

The proposal, which resulted from an 18-month review, was accelerated in part by Unilever’s decision to demerge its tea business this year. Unilever said achieving that demerger would be significantly more complex under its “dual headed” structure. Unilever said the new plan will not change its operations, locations, activities or staffing in Britain or the Netherlands.

Unilever said it will be achieved through a cross-border merger, with shareholders of Unilever NV getting one share of Unilever Plc for each share held.

 

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This is NOT what should be happening with Brexit!

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