Consumer goods giant Unilever has announced that it has become a wholly British corporation, completing a landmark merger to end its double-headed arrangement between its Dutch and British corporate entities. Unilever PLC, the new company, will now have its headquarters in London as part of a unification plan aimed at making it more open to economic challenges, including coronaviruses.
Unilever is happy to announce the completion of the consolidation of its legal group structure under Unilever PLC, a single parent firm, as reported in a statement. Unilever is now trading with one market capitalization, one class of shares, and one global liquidity pool, while also retaining its listings on the stock exchanges of Amsterdam, London, and New York.
Unilever, which come across strong demand during the deadly Covid-19 pandemic for hand cleaners and household cleaning products, maintained that its operations, activities, and staffing levels would not change. The headquarters of Unilever’s Foods & Refreshment Division will continue to be located in Rotterdam and the United Kingdom will continue to be headquartered in the Home Care and Beauty & Personal Care Divisions.
Nils Andersen, Unilever’s Chairman said in a speaking occasion that it is a significant day for Unilever, and the company would like to thank the shareholders for their strong support for the Unification plans, which offer them greater flexibility in changing the strategic portfolio, removing uncertainty and enhancing governance further.
As part of unification, Unilever NV ceased to exist in all Unilever NV securities including Unilever NV shares in Euronext in Amsterdam. Because there is no dealings have taken place and no further dealings will take place until the unification.
On the London Stock Exchange, Euronext Amsterdam, and the New York Stock Exchange, the new Unilever PLC shares will be launch. The shares of New Unilever PLC will be added to the Premium Listing section of the Official List of the United Kingdom Financial Conduct Authority and the London Stock Exchange Main Market for authorized ULVR ticker securities. Unilever PLC shares will now be added to Euronext Amsterdam, a controlled market of Euronext Amsterdam N.V., to be listed and exchanged on Euronext.