Unilever starts €6bn share buyback
Unilever has launched the €6bn (£5.3bn) share buyback it promised investors after selling its spreads business.
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The Anglo-Dutch consumer goods company said it would buy an initial €3bn of shares starting on 8 May and ending no later than 19 July. Half the shares will be listed in London and half will be listed in Amsterdam.
“Any further tranches of the buyback programme, which may be conducted after completion of the initial programme, will be announced in due course,” Unilever said.
The maker of Marmite, Persil and Ben & Jerry’s announced its intention to buy back €6bn of shares at its first-quarter results in April. It is using the net proceeds from the €6.8bn sale of Flora and other spreads to private equity firm KKR late in 2017.