Unilever Ac­quires Rights of Co-founder's Fam­ily Trusts

The Economic Times - - Business Of Brands -

Con­sumer goods group Unilever said on Mon­day it had paid £715 mil­lion for the rights left in fam­ily trusts by co-founder Wil­liam Hes­keth Lever in a move to sim­plify the An­gloDutch group's share struc­ture. The rights are con­vert­ible in 2038 to 70.9 mil­lion shares of Unilever Plc, or about 2.4% of the com­bined to­tal of Lon­don-listed Unilever Plc and Am­s­ter­dam-listed Unilever NV. In a state­ment, Unilever CFO Jean-Marc Huet said the move was good for share­hold­ers. "It is an­other step in the sim­pli­fi­ca­tion of Unilever's cap­i­tal struc­ture, mak­ing Unilever eas­ier to un­der­stand, and elim­i­nat­ing ahead of time the bur­den of a sig­nif­i­cant di­lu­tion of share­hold­ers' in­ter­ests," Huet said.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.