News Unilever moves HQ from the UK to Rotterdam

Discussion in 'Business News & Resources' started by Cody, Mar 15, 2018.

  1. Cody

    Cody

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    In a recent turn of events, the UK's third largest company has decided to up and leave the UK to move their legal headquarters to Rotterdam. The company that creates consumer brands such as Marmite, Dove care products and more, say this decision "has nothing to do with Brexit", it's more a matter of simplifying the business into one single and legal entity in the Netherlands, and the shares currently in Netherlands account for more than 55 per cent of their entire combined share capital.

    It is expected they will still have their shares listed in London though, as well as Amsterdamn and New York.

    These changes will be operating from three devisions, with its beauty and personal care division, and home division based in London, and their food and refreshments based in Rotterdam. There are no changes to the tax they will pay in the UK.

    There are no expected job losses in the UK, meaning their 7,300 job force in the UK and 3,100 in the Netherlands will stay employed.

    The London deputy mayor for business said this is "disappointing news for the capital," and that "it brings into sharp focus the need for the government to secure a Brexit deal that secures London as Europe's leading business centre. The best to do this for London and the UK to remain part of the single market and customs union."
  2. Jed

    Jed

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    The reason for this move is Dutch laws do not allow hostile takeovers so they're protecting themselves from that as they recently had to fend off Kraft, it's been on the cards for quite a while actually.

    Nothing to do with Brexit but everyone will use that as an excuse to make a point.
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  3. Cody

    Cody

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    Yep good to know this is nothing to do with Brexit - when will this whole thing end! - but more of a protection reason. Makes sense.
  4. Pembroke

    Pembroke

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    This move really just illustrates another flaw in the EU that shouldn't exist as surely the takeover laws should be uniform across all 28 countries and where the company is located shouldn't matter.
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