Deutsche Bank Replaces Citi as Depositary Bank and TA for Unilever

Unilever has appointed Deutsche Bank as successor depositary bank for its NYSE-listed American Depositary Receipt program and New York transfer agent and registrar for Unilever New York Registry Shares.
By Jake Safane(2147484770)
Unilever has appointed Deutsche Bank as successor depositary bank for its NYSE-listed American Depositary Receipt program and New York transfer agent and registrar for Unilever New York Registry Shares.

Unilever, which owns a variety of consumer goods brands such as Dove, Lipton and Ben & Jerry’s, previously used Citi in these roles. Due to the structure of Unilever, the company is dually listed in the Netherlands, as Unilever N.V., and in the U.K. as Unilever PLC.

Unilever PLC has an ADR program for which Deutsche Bank now acts as depositary bank, while Unilever N.V. uses a New York Registry Shares setup. In this structure, a U.S. transfer agent and registrar (now Deutsche Bank) issues shares that are created against the cancellation of the local share by the local registrar. One New York Registry Share is the equivalent of one Unilever N.V. ordinary share.

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