LONDON: Consumer goods giant Unilever said Monday that it has become a wholly British company, completing a historic merger of its Dutch and British corporate entities to end its double-headed structure. The new group, Unilever PLC, will now be headquartered in London under a so-called unification strategy designed to make it more responsive to economic challenges including coronavirus.
Unilever, which has experienced strong demand for hand cleaners and household cleaning products during the deadly Covid-19 pandemic, insisted there will be no change to its operations, locations, activities and staffing levels.
"Unilever is pleased to announce the completion of the unification of its group legal structure under a single parent company, Unilever PLC," it said in a statement.
"From today, and for the first time in its history, Unilever now trades with one market capitalisation, one class of shares and one global pool of liquidity, whilst also maintaining the group's listings on the Amsterdam, London and New York stock exchanges."