Stibbe advises NN and ASR
Stibbe advises NN Investment Partners B.V. (“NN”) and ASR Nederland N.V. (“ASR”) on the sale of all their 6% and 7% cumulative preference shares in Unilever N.V. to Unilever PLC.
These represent approximately 97% of all the outstanding 6% and 7% cumulative preference shares and will be acquired by means of a public offer which Unilever PLC intends to launch so as to enable all holders of the 6% and 7% cumulative preference shares to access the same terms as have been agreed with NN and ASR. This offer would value all of the outstanding 6% and 7% cumulative preference shares at €450 million.
This transaction represents an important step in simplifying the capital structure, which Unilever has been pursuing for many years. It will make Unilever easier to understand, and improve corporate governance by strengthening the link between economic interest and voting rights for its shareholders.
