Unilever to press ahead with unification plans

Consumer goods giant Unilever said that following board meetings earlier in the day, it plans to go ahead with proposals to unify its legal structure in the UK.

The company said it will request that the UK High Court approve the cross-border merger at the hearing scheduled to take place on 2 November, with a view to completing the unification on 29 November.

Unilever announced in June that it was planning to unify its legal structure as a UK Plc to become a simpler company in a move that reverses a failed attempt to consolidate in the Netherlands two years ago.

"The boards are of the view that unification under Unilever Plc is the best practical option to achieve these objectives and will better position Unilever for future success," it said in a statement on Tuesday.