05.08.18
Unilever PLC and Unilever N.V. are buying back as much as €6 billion worth of shares in an effort to reduce a net debt to EBITDA ratio of 2.0x. The intention is to return the expected after-tax proceeds upon completion of the spreads disposal to shareholders, unless more value-creating acquisition alternatives arise. The first tranche of this buy-back program got underway today (and will be for an aggregate market value equivalent to €3 billion, of which €1.5 billion will be bought back in the form of Unilever PLC ordinary shares, and €1.5 billion will be bought back in the form of Unilever N.V. ordinary shares (or depositary receipts in respect of such ordinary shares). The program will end no later than July 19, 2018.