Unilever: single legal structure is now complete
(CercleFinance.com) - Unilever said on Monday that it has completed the simplification of its dual governance structure, now having a legal structure under a single parent company, Unilever PLC.
For the first time in its history, the Anglo-Dutch consumer-goods giant will trade with one market capitalisation and one class of shares, with the Unilever PLC stock today replacing Unilever NV on Euronext Amsterdam.
The Unilever PLC stock was up 1.6% in late Monday morning trading.
Trading in the new Unilever PLC shares also started today on the London Stock Exchange, and will begin later on the New York Stock Exchange.
As part of the move, Unilever NV ceased to exist yesterday, 29 November 2020.
"Having a single pool of liquidity in a single equity ought to make bolder portfolio change more straightforward to execute and allow it to consider more imaginative ways to unlock value," said analysts at Barclays.
"The last four CEOs of Unilever have tried and failed to unify the company structure, so it is credit to Alan Jope that he has succeeded," they added.
The dual Anglo-Dutch structure, a combination of British and Dutch companies, each with their own shares, had been in place since 1929, when the Dutch margarine maker Unie merged with British soap manufacturer Lever Brothers.
Unilever NV was listed on the Amsterdam market since 1930.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
For the first time in its history, the Anglo-Dutch consumer-goods giant will trade with one market capitalisation and one class of shares, with the Unilever PLC stock today replacing Unilever NV on Euronext Amsterdam.
The Unilever PLC stock was up 1.6% in late Monday morning trading.
Trading in the new Unilever PLC shares also started today on the London Stock Exchange, and will begin later on the New York Stock Exchange.
As part of the move, Unilever NV ceased to exist yesterday, 29 November 2020.
"Having a single pool of liquidity in a single equity ought to make bolder portfolio change more straightforward to execute and allow it to consider more imaginative ways to unlock value," said analysts at Barclays.
"The last four CEOs of Unilever have tried and failed to unify the company structure, so it is credit to Alan Jope that he has succeeded," they added.
The dual Anglo-Dutch structure, a combination of British and Dutch companies, each with their own shares, had been in place since 1929, when the Dutch margarine maker Unie merged with British soap manufacturer Lever Brothers.
Unilever NV was listed on the Amsterdam market since 1930.
Copyright (c) 2020 CercleFinance.com. All rights reserved.