Unilever Share Buyback Program to Start Friday

Unilever NV and Unilever PLC will start a previously-announced share buyback program Friday, the companies said Thursday. The program, announced on April 6, involves repurchasing shares with an aggregate market value equivalent to EUR5 billion ($5.6 billion) and is being done to reduce the capital of the companies.

Under the terms of the program, between EUR1.5 billion and EIR2.5 billion will be bought back on the London Stock Exchange in the form of Unilever PLC ordinary shares, and the balance of the aggregate EUR5 billion will be bought back on Euronext in Amsterdam in the form of Unilever N.V. ordinary shares. The program will end no later than Dec. 15, the companies said.