LONDON: 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.
Unilever said achieving that demerger would be significantly more complex under its “dual-headed” structure. Unilever has a new Chairman and CEO since the failure of that proposal in the face of a shareholder revolt. The formation of the Britain-based parent, Unilever Plc, will be subject to approval from shareholders of both Unilever NV and Unilever Plc and is not expected to be a taxable event.
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