THE WHAT? Unilever has announced that it has completed the unification of its legal structure under a single parent company, Unilever PLC.
THE DETAILS The former Anglo-Dutch FMCG giant will now trade with one market capitalisation, one class of shares and one global pool of liquidity, while maintaining its listings on the Amsterdam, New York and London stock exchanges.
Unilever said that there would be no change to the operations, locations, activities or staffing levels in either the Netherlands or the United Kingdom as a result of the unification.
THE WHY? Nils Andersen, Chairman of Unilever, 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.”