September 11, 2018 / 8:10 PM / 2 months ago

Unilever's Dutch entity to replace parent company on FTSE Russell

Sept 11 (Reuters) - FTSE Russell said on Tuesday consumer goods giant Unilever Plc would be deleted from all its indexes by the end of the year and replaced by New Unilever NV.

New Unilever NV will be incorporated in the Netherlands and listed on Euronext Amsterdam, FTSE Russell said in a statement. (bit.ly/2O9xGcr)

The exchange’s announcement comes hours after the Dove soap and Lipton tea maker provided details for its December listing of its new Dutch entity.

The new company will be assigned a nationality of Netherlands for FTSE index inclusion, and will not be eligible for the FTSE 100, the exchange’s statement said.

Earlier in June, Unilever said it would be “extremely unlikely” to stay in Britain’s blue-chip FTSE 100 index after ending its dual-headed structure and moving its headquarters to the Netherlands.

Reporting by Nivedita Balu in Bengaluru Editing by Mark Heinrich

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