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Unilever To Restructure Operations With Move To Rotterdam

Published on Oct 11 2017 10:20 AM in A-Brands tagged: Trending Posts / Unilever / Netherlands / PG Tips

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.

Simplifying Structure

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.

There has been interest from a number of private-equity groups to acquire the business, and last month Unilever sold its South African spread unit to Remgro.

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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