The Magnum Ice Cream Company demerger became effective at 6PM on Saturday, December 6, 2025. The record date was the previous evening and shares will begin trading on Monday, December 8, 2025 in both Amsterdam and New York. Unilever shareholders received one share of TMICC for every five Unilever shares held. Unilever has retained 19.9%
In addition, the company will conduct a “share consolidation”
Share Consolidation
As set out in the circular published by Unilever on Thursday 2 October 2025 in relation to the Share Consolidation (the “Circular”) and approved by shareholders on Tuesday 21 October 2025, Unilever expects that, shortly following the Demerger, it will consolidate (or sub-divide and consolidate) its existing issued share capital in order to reduce the total number of ordinary shares in Unilever in issue (while increasing the nominal value per share).
The Share Consolidation is intended to maintain comparability, so far as practicable, between Unilever’s share price and per share metrics (including earnings per share and dividends per share) before and after the Demerger.
Further information on the Share Consolidation is set out in the Circular, and Unilever will make further announcements regarding the Share Consolidation in due course.
The Circular is available on Unilever’s website at www.unilever.com/gm. Shareholders are encouraged to read the Circular in full.
This is kind of a wacky European demerger feature that our American readers will likely be surprised by. On Monday, December 8, 2025, Unilever set its share consolidation ratio. On Tuesday, December 9, 2025, Unilever shareholders received 8 New Unilever Shares for every 9 existing ordinary shares in Unilever, and received a cash payout for any fractional shares.
The market has had a muted initial response to MICC stock with investors worried that GLP-1 drugs will lead to a permanent decline in ice cream consumption.
Disclosure: The author holds no shares in any stock mentioned