KARACHI, May 27: Lever Brothers Pakistan Limited proposes to change company name to Unilever Pakistan Limited, a company announcement said on Monday.

“This move is in line with a global alignment strategy designed to achieve brand and corporate synergies”, a company press release stated. It said that the advantages to the company would include the facility to leverage the worldwide initiatives of the parent company, Unilever plc, and its other global subsidiaries.

An special resolution to seek shareholders’ approval for the change of name, would be moved at the company’s Annual general meeting on June 17. Consequent upon the completion of all statutory formalities, the change of corporate name was expected to become effective some time later this year.

Unilever is one of the world’s premier multinational giants with a presence in over 80 countries and annual global sales of $47 billion.

The Pakistani subsidiary was incorporated in 1949 and the company is now one of the country’s biggest manufacturers and marketers of foods, beverages, detergents and personal products, the press release stated.