According to a PTI report: Unilever PLC and Unilever NV are the two ultimate holding parent companies of the Unilever Group, which is one of the world’s leading consumer goods firms.
In a tweet, the Competition Commission of India (CCI) said it has approved “the proposed combination involving Unilever PLC and Unilever NV”.
Deals beyond a certain threshold require clearance of the fair trade regulator.
According to a notice submitted to the CCI, the proposed transaction is an internal reorganisation of the Unilever Group resulting in simplification of the existing dual-headed legal structure into a single new holding company, New NV.
The proposed transaction “does not lead to any structural change to markets or to competition, either globally or in India”, the notice said.