Unilever said the planned separation of its ice cream business has been delayed due to the ongoing U.S. federal government shutdown.
The consumer goods giant said the U.S. Securities and Exchange Commission is currently unable to approve the registration statement required for the new entity, The Magnum Ice Cream Company, to list on the New York Stock Exchange.
The company had previously targeted a completion in mid-November but said it remains confident of implementing the demerger in 2025.
"We expect to complete the Demerger of the Ice Cream business by the end of the year," Chief Executive Fernando Fernandez said in a statement.
"This will create a simpler Unilever, with a sharper focus and structurally higher margin profile."
The announcement came as Unilever reported third-quarter underlying sales growth of 3.9%, with turnover of 14.7 billion euros, and confirmed its full-year outlook remains unchanged.
All preparatory work for the separation remains on track and is progressing well, according to the company.
Unilever plans to retain a stake of about 19.9% in the new ice cream company for up to five years following the separation.
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Unilever said Tuesday it has delayed the planned separation of its ice cream business because of the ongoing U.S. federal government shutdown.