9th Oct 2020 12:50
(Alliance News) - Unilever PLC on Friday noted the tabling of the GroenLinks exit tax proposal in Dutch Parliament and will assess its possible impact on unification plans.
Anglo-Dutch firm Unilever is intending to unite the company's legal structure under a single parent company, Unilever PLC.
However, GroenLinks, a Dutch opposition party, is moving forward with plans that Unilever has previously warned could result in a hefty EUR11 billion tax charge as a result.
In its prospectus for the merger, however, Unilever said: "Proceeding with unification, if it resulted in an exit tax charge of some EUR11 billion, would not be in the best interests of Unilever, its shareholders and other stakeholders as a whole."
Given the tabling of the GroenLinks initiative bill, Cornetto ice cream maker Unilever said it "will carefully review the bill to assess any potential impact on our proposals for unification".
"As previously disclosed, the boards intend to proceed with their proposals provided that, in the boards' view, unification remains in the best interests of Unilever, its shareholders and other stakeholders as a whole," said Unilever.
Shares in Unilever were up 0.3% at 4,825.00 pence in London on Friday.
By Anna Farley; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Unilever