Davis Polk & Wardwell and Linklaters have suggested on the simplification of Unilever company construction, wherein its Dutch and UK entities have been merged to create one listed holding firm.
Consequently, Unilever’s UK enterprise will be a part of with the Dutch entity to create New Unilever NV. The corporate will probably be listed in three jurisdictions; London, Amsterdam and New York (within the type of American depositary shares).
Linklaters gained the mandate for Unilever, having been on its authorized panel since 2014 when its changed Slaughter and Might as the primary company adviser.
Davis Polk is advising UBS as a sponsor on the deal, with Metropolis companions Will Pearce and Jonathan Cooklin engaged on the matter, alongside European counsel Jamie Nook, counsel Connie Milonakis, and associates Fiona Tregeagle and Rosie Upstill.
Unilever’s Dutch enterprise will purchase the UK entity by way of a triangular authorized merger beneath Dutch company legislation, which means it’s going to now be headquartered in Rotterdam after greater than a century in London.
When Unilever introduced the restructuring there have been questions on whether or not the corporate would stay within the FTSE100. The transfer to Rotterdam additionally comes as massive corporates and monetary establishments rethink their place in London forward of Brexit.
Almost two years in the past, Unilever turned the topic of one of many largest M&A bids in historical past as Kraft Heinz approached the buyer big for $143bn.
On the finish of final 12 months, Linklaters additionally acted for Unilever because it bought its spreads enterprise KKR for £6bn.
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