Unilever Completes First EUR3 Billion Tranche of Share Buyback
20 Juli 2018 - 8:49AM
Dow Jones News
By Maryam Cockar
Unilever PLC (ULVR.LN) said Friday that it has completed the
first 3 billion-euro ($3.9 billion) tranche of its previously
announced share-buyback program and will start the second tranche
on July 20.
In April, the Anglo-Dutch consumer products company said it will
buy back shares worth up to EUR6 billion and expects to complete
the programmer before the end of the year.
Unilever said the buyback program is in line with its objectives
of targeting a net debt to Ebitda ratio of 2x and returning the
expected after-tax proceeds of the disposal of its
spreads-and-margarine business.
Earlier in July, Unilever said it completed the sale of the
spreads business to KKR & Co. (KKR) for $8.1 billion.
Write to Maryam Cockar at maryam.cockar@dowjones.com
(END) Dow Jones Newswires
July 20, 2018 02:34 ET (06:34 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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