12th Oct 2020 17:07
(Alliance News) -Â Unilever PLC said its PLC shareholders on Monday voted in favour of the consumer goods giant's plan to unify its group legal structure under a single parent company.
In June, the company announced its plan to combine its dual-headed structure into one single London-based entity. Unilever, however, said it would retain its stock listings in London and Amsterdam.
Dutch investors approved Unilever's unification plan in September.
Unilever has also now received all relevant merger control, foreign investment and regulatory approvals in connection with the unification. Completion still remains subject to the satisfaction or waiver of some other conditions, including approval by the High Court of Justice in England and Wales at a hearing expected to be held on November 2.
The unification is expected to become effective on November 29, with dealings in new Unilever PLC shares commencing the day after.
Unilever in 2018 had tried to move the company's corporate base to Rotterdam from London but faced significant opposition from UK-based shareholders and eventually had to abandon the plans.
By Lucy Heming;Â [email protected]
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