Global foods and home care products powerhouse Unilever has completed the unification of its UK and Dutch operations into a single legal entity, just in time for Brexit.
Unilever is home to many famous household brand names, including Hellmann’s mayonnaise, Dove soap, Ben & Jerry’s ice-cream, Lipton tea, Marmite, Surf washing products and Lynx body deodorant.
The company, which for the past 90 years has operated as an often complex and unwieldy two-headed corporate beast will see its shares trade as Unilever PLC on the London Stock Exchange, as well as in New York and Euronext.
From today, for the first time in its history, Unilever now trades with one market capitalisation, one class of shares and one global pool of liquidity, whilst also maintaining its listings on the Amsterdam, London and New York stock exchanges.
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.”
No change to ops
Unilever insisted there will be no change to the operations, locations, activities or staffing levels in either The Netherlands or the United Kingdom as a result of Unification.
The headquarters of Unilever’s Foods & Refreshment Division will continue to be based in Rotterdam and the Home Care and Beauty & Personal Care Divisions will continue to be headquartered in the United Kingdom.
With its vast array of household cleaning, beauty care and food products, Unilever is one of the world’s biggest advertisers.
It’s annual total ad spend budget across all its products is around £6.4bn (€7.2bn), according to Statista.com.
Unilever’s shares were trading 1.2% higher in London at £46.42 on Monday.