On 15 March 2018, Unilever announced the next steps in its transformation into a simpler, more agile and more focused business. This included the proposal to simplify Unilever's parent company structure from two legal entities, NV and PLC, into a single holding company ("New Unilever NV"), incorporated in the Netherlands, and to be listed in London, Amsterdam and, in the form of American depositary shares, New York. Unilever has today published the prospectus for New Unilever NV and the shareholder documentation relating to simplification.
Simplification of the current NV and PLC parent companies under New Unilever NV will be achieved through a combined process involving a UK scheme of arrangement (the "UK Scheme") for PLC and a Dutch statutory legal merger for NV (the "Dutch Merger").
One ordinary share in the capital of New Unilever NV will be issued for each NV ordinary share and for each PLC ordinary share, resulting in shareholders receiving shares in the capital of New Unilever NV that represent an equivalent economic interest.
The proposed simplification is subject to certain conditions, including the approval of shareholders in NV and PLC and applicable regulatory consents. The Executive of the UK Takeover Panel has confirmed that the UK Takeover Code will not apply to the simplification transaction.
https://www.investegate.co.uk/unilever- ... 00223425A/