On 19 April 2018, Unilever PLC and Unilever N.V. announced their intention to buy back shares with an aggregate market value equivalent of up to €6 billion, in line with the Group's objective of targeting a net debt to EBITDA ratio of 2.0x and our intention to return the expected after-tax proceeds upon completion of the Spreads disposal to shareholders, unless more value-creating acquisition alternatives arise. On 2 July 2018, the Group announced the completion of the Spreads disposal and on 19 July 2018, the Group announced its intention to complete the €6 billion share buyback programme before the end of this year.
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