Shareholders of Unilever Plc have approved a unification plan to end company’s 90-year old dual structure.
Shareholders of Unilever Plc approved today the company’s unification plan to end its 90-year-old dual-headed structure and adopt simpler structure of single parent company.
The Anglo-Dutch consumer goods company said in an announcement that the unification proposal passed with the support of more than 99% of shares voted.
The unification plan will be implemented by November 29,2020. UK High Court will take up unification plan on October 23.
A Dutch opposition party demanded imposition if an exit tax that could cost the company up to 11 billion euros ($13 billion). [Read Detail Unification Plan Here]