LONDON (Reuters) – Consumer goods giant Unilever (ULVR.L) (UNc.AS) said simplifying its parent company structure from two UK and Dutch legal entities into a single holding company would be achieved through a UK scheme of arrangement and a Dutch legal merger.
The logo of Unilever is seen at the headquarters in Rotterdam, Netherlands August 21, 2018. REUTERS/Piroschka van de Wouw
The group said in March 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.
On Tuesday it published the prospectus for New Unilever NV and the shareholder documentation relating to the simplification.
It said one share in the capital of New Unilever NV would be issued for each share in the Dutch (NV) entity and for each share in the UK (PLC) entity, resulting in shareholders receiving shares in the capital of New Unilever NV that represent an equivalent economic interest.
The proposed simplification requires the approval of shareholders in both entities as well as applicable regulatory consents.
Reporting by James Davey, Editing by Paul Sandle