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UNAT - Unilever NV News Story

€53.56 0.5  0.9%

Last Trade - 28/06/19

Sector
Consumer Defensives
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £47.26bn
Position in Universe th / 850

BRIEF-Unilever says unification is "best tactical move", no updates on tea business review soon

Thu 11th June, 2020 9:40am
June 11 (Reuters) - Unilever  ULVR.L :
    * CHAIRMAN ON MEDIA CALL- EARLIER STRUCTURE GAVE US A
DISADVANTAGE
AT A TIME WE WANT TO ACCELERATE PORTFOLIO TRANSFORMATION
    * CHAIRMAN - THIS MOVE IS "OUR BEST TACTICAL OPTION"
    * CEO- WE HAVE ENGAGED WITH DUTCH GOVERNMENT OVER LAST FEW
WEEKS
OVER PLAN
    * CEO- NO PLANS TO LIST FOOD & REFRESHMENT DIVISION AS A
SEPARATE
ENTITY
    * CEO- THIS UNIFICATION WILL HELP IN OUR DEMERGERS
    * CEO- THIS IS THE MOST SHAREHOLDER FRIENDLY ROUTE TO
UNIFICATION;
EXPECT TO COMPLETE MOVE BY END OF YEAR
    * CEO- SHAREHOLDERS APPROVAL NEEDED FOR THIS MOVE IS 50%
    * CEO- NO CANVASSING OF SHAREHOLDERS BEFORE THIS MOVE
    * CEO- DON'T EXPECT ANY RESISTANCE OF PLANS OF UNIFICATION
FROM
SHAREHOLDERS
    * CHAIRMAN- THIS IS IN NO WAY 180  DEGREE TURN FROM 2018
PLAN
    * CEO- STRATEGIC DIRECTION OF PREVIOUS PLAN AND THE NEW ONE
IS THE
SAME; THIS IS NO U-TURN FROM 2018 PLAN
    * CEO- THIS ROUTE WE HAVE TAKEN SHOWS THAT THE MOVE HAS
NOTHING TO
DO WITH BREXIT
    * CEO- NO TAKEOVER OF HINDUSTAN UNILEVER REQUIRED UNDER THE
UNIFICATION MOVE
    * CEO- NO TAKEOVER OF HINDUSTAN UNILEVER REQUIRED UNDER THE
UNIFICATION MOVE
    * CEO- COVID-19 CRISIS HAS CREATED NEW OPPORTUNITIES FOR M&A
THAT
WE ARE LOOKING AT
    * CEO- TEA BUSINESS REVIEW CARRIES ON ; LOOKING AT ALL
OPTIONS AND
WE ARE MID WAY THROUGH PROCESS
    * CEO- NOT ON BRINK OF ANNOUNCING ANYTHING ON TEA BUSINESS
REVIEW
RIGHT NOW
    * CEO- KRAFT HEINZ IS NOT A THREAT TODAY AND IT HAS HAD
NOTHING TO
DO WITH MOVE ANNOUNCED TODAY


Further company coverage:  ULVR.L 

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