Insurance company Aegon has agreed to sell its package of special shares in Unilever back to the company, ending a long dispute.
The shares, which represent just a fraction of a percent of the economic value of the company, carry 22% voting rights.
Aegon rejected a Unilever offer for the shares last year but has now agreed with a total payout worth €28.5m. Financial services groups ING and ASR still hold culmulative preference shares in Unilever.
The deal needs to be approved at an extraordinary shareholders meeting.
‘This agreement promotes good corporate governance by strengthening the link between economic interest and voting rights for Unilever shareholders and by moving Unilever closer to the principle of one share, one vote,’ the company said in a statement.
Thank you for donating to DutchNews.nl.
We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.Make a donation