Unilever: to buy back preference shares to simplify capital.
(CercleFinance.com) - Unilever said on Wednesday that it will buy back a large amount of its preference shares, in order to simplify its capital structure.
The consumer goods company today announced that it has agreed terms with NN Investment Partners and ASR Nederland for the acquisition of all their 6% and 7% preference shares.
These represent approximately 97% of all the outstanding cumulative preference shares.
"This represents an important step in simplifying the capital structure, which Unilever has been pursuing for many years," said the group, which is based both in London and Rotterdam.
"It will make Unilever easier to understand, and improve corporate governance by strengthening the link between economic interest and voting rights for our shareholders," it added.
This offer would value all of the outstanding 6% and 7% cumulative preference shares at 450 million euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The consumer goods company today announced that it has agreed terms with NN Investment Partners and ASR Nederland for the acquisition of all their 6% and 7% preference shares.
These represent approximately 97% of all the outstanding cumulative preference shares.
"This represents an important step in simplifying the capital structure, which Unilever has been pursuing for many years," said the group, which is based both in London and Rotterdam.
"It will make Unilever easier to understand, and improve corporate governance by strengthening the link between economic interest and voting rights for our shareholders," it added.
This offer would value all of the outstanding 6% and 7% cumulative preference shares at 450 million euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.