LONDON: Unilever’s cross-border merger between its Dutch and British corporate entities has been approved by the United Kingdom’s High Court, the company said on Monday, marking the effective point of no return for the group’s plan to become a single London-based entity.
The transaction is due to complete on Nov. 29.
Unilever NV’s Amsterdam-listed shares will cease trading after Friday Nov. 27 and shares in the new combined public company will begin trading in London on Monday Nov. 30.
The consumer goods giant is pressing ahead with the plan despite a proposal from a Dutch opposition party that could saddle the company with an 11 billion euro ($12.79 billion)retroactive “exit tax” if passed into law.
Unilever and the Netherlands’ Council of State, which advises parliament on the legality of bills, have said the proposed tax would be illegal.
($1 = 0.8599 euros)
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
Read all the Latest News and Breaking News here
Comments
0 comment