Consumer goods giant Unilever (ULVR) has announced plans to “simplify” its company structure with the creation of a new single holding company, ahead of its planned headquarter move to Amsterdam.
The move will reduce it from two UK and Dutch legal entities into the New Unilever NV company, through a UK scheme of arrangement and a Dutch legal merger.
The group announced in March that it will move its corporate HQ to the Netherlands. A new holding company, New Unilever NV, incorporated in the Netherlands, would be listed in London, Amsterdam and, in the form of American depositary shares, in New York.
The move is likely to mean Unilever is no longer a member of the FTSE 100.
The proposed simplification is subject to certain conditions, including the approval of both Dutch and UK shareholders and regulatory consents.
However, the UK Takeover Panel has confirmed that the UK Takeover Code will not apply to the simplification transaction.
The shareholder meetings will take place in Rotterdam on Thursday, 25 October 2018 and London on Friday, 26 October 2018.
The expected last day of trading in NV and PLC shares will be Friday, 21 December 2018.
Simplification is expected to complete over the weekend of 22 and 23 December 2018, with dealings in New Unilever NV shares commencing on Monday, 24 December 2018.
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