Unilever makes second attempt to merge UK and Dutch arms

Unilever will make a second attempt at unifying its business, ending its joint Anglo-Dutch structure and making London its headquarters. 

The maker of Marmite and Domestos said the move would make it easier to carry out acquisitions, remove complexity and strengthen its corporate governance. 

The decision represents an about-turn from previous plans to move its headquarters to Holland, which was strongly opposed by UK shareholders. 

The company  said it would maintain its listings on the Amsterdam, London and New York stock exchanges, adding that there would be no change to the operations, locations, activities or staffing levels in either the UK or the Netherlands as a result of unification.

The FTSE 100 firm added: “It is clear that the Covid-19 pandemic will create a business environment in which having as much flexibility and responsiveness as possible will be critically important.”

Nils Andersen, Unilever’s chairman, said: “Unilever’s board believes that unifying the company’s legal structure will create greater strategic flexibility , remove complexity and further improve governance.

“We remain committed to The Netherlands and the UK and there will be no change to Unilever’s footprint in either country as a result of the proposed change to Unilever’s legal parent structure.”