Unilever To Restructure Operations With Move To Rotterdam
Consumer-goods giant Unilever is said to be shifting UK jobs to Rotterdam, as part of a plan to create a new global headquarters for brands such as PG Tips and Magnum ice cream, according to Sky News.
It is reported that the company will merge its food and refreshment units at this base in the Netherlands, relocating more than 100 jobs from the UK.
However, the headquarters of Unilever's home- and personal-care business, which includes brands such as Persil and Lynx, will remain in the UK.
Meanwhile, the Financial Times reports that the company launched its €450 million share buy-back scheme.
The programme, which was announced in August, will see the company acquire Dutch preference shares from NN Investment Partners and ASR Nederland.
Unilever said that this move represents 'an important step in simplifying the capital structure' and will improve corporate governance by strengthening the link between economic interests and voting rights for company shareholders.
In April, the company also announced that it was reviewing its corporate structure, including its intention to either sell or remerge its spreads business.
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