Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

A win for London as Unilever opts for UK base

06/11/2020 | 10:42am EDT

Brexit supporters may seize on it as a victory.

Unilever plans to restructure as a single holding company based in Britain.

Since 1930 it's been run as a joint Anglo-Dutch operation, with its main offices in London and Rotterdam.

Now the latest plan comes just two years after it had planned to settle in the Netherlands.

That was sunk by a UK shareholder revolt.

Unilever is a consumer brands giant, making everything from Dove soap to Marmite and Hellmann's mayonnaise.

Now the new plan will require shareholder approval.

It's driven partly by a desire to demerge the firm's tea business - a move seen as tricky under the dual structure.

The move will be achieved by a cross-border merger, with Dutch shares swapped for stock in the new British entity.

Unilever says it will retain listings in London and Amsterdam.

But the move still sparked Dutch disappointment.

The country's economy minister said they would have preferred a Netherlands HQ.

Following the news, Unilever's London-listed shares fell 0.6%, while the Amsterdam-listed ones were up close to 1%.


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BASE CO., LTD. -3.56% 4745 End-of-day quote.-22.85%
BASE, INC. 0.89% 1251 End-of-day quote.-35.91%
DUAL CO., LTD. 0.32% 4640 End-of-day quote.37.48%
EURO / BRITISH POUND (EUR/GBP) -0.21% 0.8508 Delayed Quote.-4.32%
Latest news "Economy & Forex"
06:46aOil prices slip as Delta variant spread weighs
RE
06:44aMarathon Petroleum posts first adjusted profit since pandemic on fuel demand
RE
06:36aCVS Health profit falls 6.5% on higher medical costs
RE
06:33aSpain's La Liga attracts $3.2 billion investment from CVC
RE
06:31aIndian shares close at record highs as financial, bank stocks rally
RE
06:27aWorld shares ride earnings to fresh high, dollar steady
RE
06:25aHuawei CFO's U.S. extradition case begins final weeks of hearings in Canadian court
RE
06:11aUK private-sector growth slows to weakest since March - PMI data
RE
05:56aRothschild-backed RIT co-leads funding for crypto platform Aspen Digital
RE
05:53aEuro zone business surged in July but price pressures and COVID weigh
RE
Latest news "Economy & Forex"