Mubasher: Giant consumer products company Unilever on Thursday announced it has chosen Rotterdam, the Netherlands instead of London for its new headquarters.

The UK’s third largest company’s move comes as a blow to the British government amid concerns over Brexit.

“We chose the Netherlands because pretty simply, at the end of the day, the Dutch company is quite a bit bigger than the UK,” Unilever CEO Graeme Pitkethly said.

However, the maker of Dove soap, Persil, and Lipton stated that the decision had nothing to do with Brexit.

Unilever also revealed plans to reorganise its business into three divisions: beauty and personal care, home care, and foods and refreshment. The first two divisions will be based in London, while the third will be located in Rotterdam, BBC reported.