Unilever Plc-McCormick deal may affect ownership of UPFL

MG News | April 02, 2026 at 10:49 AM GMT+05:00

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April 02, 2026 (MLN): The ownership of Unilever Pakistan Foods Limited (PSX: UPFL) could change following a global transaction involving its parent, Unilever Plc, and McCormick & Company, Inc., the company disclosed in a filing to the Pakistan Stock Exchange today.

Unilever Plc announced on March 31 that it has agreed to combine its global Foods business with McCormick, subject to regulatory approvals and other customary closing conditions.

The transaction is expected to create a new combined group specializing in flavors and food products.

Since Unilever Pakistan Foods’ majority shareholder, Conopco, Inc., is a subsidiary of Unilever Plc, the global arrangement may lead to a change in control of the company's 76.5% shareholding.

Unilever Pakistan Foods said it is evaluating the specific implications of the transaction on its operations and corporate structure.

Detailed information regarding the transition, timeline, and any subsequent changes in control will be shared with the Pakistan Stock Exchange and shareholders when received from the parent company.

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