Overview
- The Magnum Ice Cream Company began trading in Amsterdam with an opening price of €12.20 versus a €12.80 reference, with secondary listings in London and New York.
- Unilever completed the demerger of its ice cream unit, creating the world's largest standalone ice cream business with brands including Magnum, Ben & Jerry's, Cornetto and Wall's.
- Unilever shares fell about 3.1% in London following the split.
- TMICC is seeking to remove Ben & Jerry's independent board chair Anuradha Mittal after internal probes and an audit citing governance deficiencies, which she rejects as an attempt to discredit her.
- The ice cream group reported €7.9 billion in 2024 revenue, Ben & Jerry's accounts for about 14% of sales, and analysts say dividend payments are unlikely before 2027 despite positive free cash flow.