Unilever’s Magnum ice cream demerger on track for December completion

Unilever expects to complete its Magnum ice cream spin-off and share consolidation by early December, according to new announcements this week.

This timetable remains subject to change, but the multinational consumer goods giant expects that the demerger will be completed by December 6, with the share consolidation scheduled for December 9. 

Unilever initially voted to spin off its ice cream division — which includes popular brands such as Magnum, Ben & Jerry’s, Cornetto, and Walls — into a standalone business and cut 7,500 jobs in March 2024. The separation began immediately and was part of an overhaul the company said at the time would save around €800 million (US$927 million) in costs over three years.

Unilever states that the spin-off of the business will make the company simpler and more focused, creating a world-leading ice cream business. Last month, Unilever reported its results for the third quarter of 2025, with turnover down 3.5% to €14.7 billion (approximately US$17 billion).

Government shutdown

The ongoing US government shutdown has played a part in the demerger delays. Recently, the consumer goods group reaffirmed that the de-merger remains on track for completion in 2025, despite delays connected to the federal government shutdown disrupting regulatory processes.

During the shutdown, the US Securities and Exchange Commission is unable to declare the registration statement effective, which is required for shares of The Magnum Ice Cream Company to list and trade on the New York Stock Exchange.

A primary listing is expected in Amsterdam, and secondary listings are planned in New York and London.