17th May 2024 09:11
Unilever PLC - London-based consumer goods firm with brands including Marmite, Dove and Domestos - Starts buyback programme announced with its 2023 results in February. Unilever will repurchase shares worth up to EUR1.5 billion, starting with a first tranche of up to EUR850 million that begins on Friday and will end by August 30. Picks Goldman Sachs International to conduct the first tranche.
Back in February, Unilever said the buyback reflected its continued strong cash generation, plus expected proceeds from the disposal of beauty and personal care brand Elida Beauty. Unilever agreed in mid-December to sell Elida to US private equity firm Yellow Wood Partners LLC, for an undisclosed amount. The deal should be complete by the middle of this year.
Current stock price: 4,302.00 pence, up 0.5% in London on Friday morning
12-month change: down 0.3%
By Emma Curzon, Alliance News reporter
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