The Magnum Ice Cream Company Spinoff Delayed
Unilever(UL) shareholders can’t have their ice cream if Congress doesn’t eat its vegetables. Unilever’s The Magnum Ice Cream Company spinoff, previously scheduled for November 10, has been delayed as the SEC is unable to declare the registration effective due to the ongoing government shutdown. In a statement, Unilever said that it still plans to complete the spinoff by year end and that a shareholder vote on the spinoff will go ahead today as planned.
Unilever PLC (“Unilever”) today announces a revision to the timetable for the demerger of The Magnum Ice Cream Company N.V. (the “Demerger”) as a result of the ongoing US federal government shutdown. The preparatory work for the Demerger is on track and progressing well, and Unilever remains committed to and confident of implementing the Demerger in 2025. Further updates on the revised timetable will be provided as soon as practicable.
The revision to the timetable has arisen because the US Securities and Exchange Commission is currently unable to declare effective the US registration statement required for The Magnum Ice Cream Company N.V. shares to be admitted to listing and trading on the New York Stock Exchange. The potential for this delay was initially outlined in the shareholder circular published on 2 October 2025.
Please note that the general meeting of Unilever shareholders to vote on the proposed consolidation of Unilever’s share capital in connection with the Demerger will proceed as scheduled today at 8.00am, although the timetable for implementation of the consolidation (if approved by shareholders) will also be revised.
Demerger, of course, is a fancy European word for spinoff. We were skeptical a few weeks ago when Vivani(VANI) delayed its spinoff of Cortigent(CRGT) and blamed the government shutdown, but we guess it’s a real thing. Hopefully it will be resolved soon and spinoffs can resume in full force.
Unilever would certainly like to see that happen so it can finally be rid of the hot potato- er, cold potato – that is Ben & Jerry’s.
Disclosure: The author holds no position in any stock mentioned.
Mentions