Unilever concludes unification process in UK

Consumer goods giant Unilever has completed the unification process of its group legal structure and will now operate under one parent company called Unilever PLC.

With the completion of the unification process, Unilever will now trade with one market capitalisation, one class of shares, and one global pool of liquidity for the first time in its history.

The company said that it will maintain group’s listings on the Amsterdam, London and New York stock exchanges.

Unilever chairman Nils Andersen said: “This is an important day for Unilever and we would like to thank our shareholders for their strong support of our Unification proposals, which give us greater flexibility for strategic portfolio change, remove complexity and further improve governance.”

The consumer goods company further added that Unilever NV business entity is completely ceased as on 29 November, and going forward, there will be no further dealings in any Unilever NV securities since that date.

However, the company confirmed that the unification will not bring any changes to the operations, locations, activities or staffing levels either in the UK or in the Netherlands.

Unilever’s Foods & Refreshment Division will continue to be headquartered in Rotterdam while the Home Care and Beauty & Personal Care Divisions will be headquartered in the UK.

In June, Unilever unveiled its plans to unify its group legal structure under a single parent company called Unilever PLC to create a simpler company with greater strategic flexibility.

The Unilever Board concluded a comprehensive review and believed that moving from a dual-headed legal structure to a single parent company would bring significant benefits to the company.