Unilever's FTSE 100 Exit Confirmed Ahead of Planned HQ Move
12 Septiembre 2018 - 09:30AM
Noticias Dow Jones
By Saabira Chaudhuri
LONDON--Unilever PLC (ULVR.LN) has received confirmation that it
is being booted from the U.K.'s blue-chip FTSE 100 index as the
owner of the Dove and Vaseline brands looks to consolidate its
headquarters in the Dutch city of Rotterdam.
Index-compiler FTSE Russell said in a statement that Unilever
stock will be deleted from all its indexes starting on Dec. 24. It
said new Unilever NV (UNA.AE) shares will replace the existing ones
on FTSE Russell indexes on the same date, with shares increased
according to the offer terms.
The group currently operates as two separately listed companies,
Unilever PLC in the U.K. and Unilever NV in the Netherlands.
Shareholders will vote on the planned move in late October. The
company needs to get approval from 50% of its Dutch shareholders
and 75% of U.K. ones.
The consumer goods company has previously said it is "extremely
unlikely" that it will keep a place in the index after
consolidating its British and Dutch legal structures in the
Netherlands.
The move is unlikely to gain the support of all shareholders, as
it could force some investors--namely funds that track the FTSE
100--to ditch the company's shares. The move would also rob British
and foreign investors invested in the index of some of their
exposure to consumer goods.
Unilever in March said it will unify its dual structure, picking
the port city of Rotterdam as its headquarters in favor of London.
The decision came after a monthslong review sparked by an unwelcome
$143 billion takeover proposal from Kraft Heinz Co. (KHC) early
last year.
Write to Saabira Chaudhuri at saabira.chaudhuri@wsj.com
(END) Dow Jones Newswires
September 12, 2018 10:15 ET (14:15 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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