Unilever Ghana Plc has notified investors that it is planning to separate its tea business to form a separate legal entity in Ghana. This is part of a global review of its tea business, which Unilever has already separated into separate legal entities in some global locations.
The company stated that this is build-up on the “announcement made on July 27, 2020 about Unilever’s global announcement on the Strategic Review and planned separation of its Tea business”. And that “Unilever Ghana Plc wishes to notify its esteemed shareholders and the general investing public of the plan to separate its tea business into a separate legal entity.”
The process is likely to involve shareholder approval at some point, but this is expected to go ahead smoothly given that Unilever Overseas Holdings holds majority stake in Unilever Ghana Plc., about 74.50% equity stake.
The separation is expected to be completed by the end of 2021. “The planned separation will go through the normal approval process and is expected to be concluded by the end of 2021. Stakeholders shall be informed of subsequent developments on this matter.”