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June 11, 2020, 2:24 a.m. EDT

Unilever to unify its dual-headed legal structure

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By Steve Goldstein

Unilever said it's going to unify its dual-headed legal structure to a single parent company, swapping Unilever NV /zigman2/quotes/222909224/delayed NL:UNA -0.21% shares for Unilever plc /zigman2/quotes/205449809/delayed UK:ULVR -0.13% . Unilever said the move will make it easier for the company to do share-based acquisitions, remove complexity and further strengthen its corporate governance. Unilever said it will maintain its listings on the Amsterdam, London and New York stock exchanges and there will be no change to the operations, locations, activities or staffing levels in either the United Kingdom or The Netherlands as a result of unification. Unilever said a demerger of the tea business is one potential outcome of a portfolio review and, as was previously the case with the disposal of the company's spreads business, would be significantly more challenging under the current legal structure than under a single parent structure. It will headquarter and list the foods and refreshment division in the Netherlands if spun out as an independent company.

/zigman2/quotes/222909224/delayed
NL : Netherlands: Euronext Amsterdam
44.61
-0.10 -0.21%
Volume: 1.57M
March 5, 2021 2:15p
P/E Ratio
21.04
Dividend Yield
3.85%
Market Cap
€115.81 billion
Rev. per Employee
N/A
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/zigman2/quotes/205449809/delayed
UK : U.K.: London
3,849.00 p
-5.00 -0.13%
Volume: 1.35M
March 5, 2021 1:15p
P/E Ratio
20.48
Dividend Yield
3.85%
Market Cap
£100.06 billion
Rev. per Employee
N/A
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