Unification of Unilever’s Legal Structure

On June 11, 2020, Unilever announced plans to unify its Group dual‑headed legal structure under a single parent company, Unilever PLC. Unification under Unilever PLC will be implemented through a cross‑border merger between Unilever PLC and Unilever N.V., both currently separate public companies, and will result in a streamlined company with one market capitalization, one class of shares and one global pool of liquidity, while maintaining Unilever’s listings on the Amsterdam, London and New York stock exchanges. The aim of unification is to create a simpler company with greater strategic flexibility, better positioned for future success. The combined company will have a market capitalization of over $150 billion based on current market values. Cravath is providing U.S. tax advice to The Unilever Group in connection with Unilever’s unification.

The Cravath team is led by partner Andrew W. Needham, and includes of counsel Michael L. Schler and associate Arvind Ravichandran on tax matters.