Linklaters and Davis Polk advise on Unilever restructuring as company nears FTSE 100 exit
Magic circle firm takes lead role on consumer goods giant's structural overhaul
Linklaters and Davis Polk are advising Unilever on the restructuring of its business, which will see the Anglo-Dutch consumer goods giant simplify its structure into a single holding company, New Unilever NV, incorporated in the Netherlands.
Linklaters has taken the lead role for Unilever, while a London team from US firm Davis Polk is advising sponsoring bank UBS in connection to the overhaul, including City corporate partner Will Pearce and tax partner Jonathan Cooklin.
Unilever, which produces household name brands such as Dove soap and Hellman’s mayonnaise, announced earlier this year that it planned to simplify into a single legal entity incorporated in the Netherlands.
The company began to review its structure last year, shortly after it declined a high-profile $143bn (£109bn) takeover bid from US food giant Kraft-Heinz.
The restructuring is expected to see the company leave the FTSE 100, with a notice published on the FTSE Russell website stating that New Unilever NV will “no longer be eligible” for the index.
Unilever has in the past turned to Slaughter and May for much of its big-ticket corporate work, but Linklaters has picked up a number of key mandates for the company in recent years.
This premium content is reserved for
Legal Week Subscribers.
Subscribe today and get 10% off.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
- The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now
For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651