ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
SoftBank Eyes Switch Inc as It Pushes Deeper Into AI Data Center Expansion 
ANZ Faces Legal Battle as Former CEO Shayne Elliott Sues Over A$13.5 Million Bonus Dispute 
Gulf Sovereign Funds Unite in Paramount–Skydance Bid for Warner Bros Discovery 
Samsung SDI Secures Major LFP Battery Supply Deal in the U.S. 
Rio Tinto Signs Interim Agreement With Yinhawangka Aboriginal Group Over Pilbara Mining Operations 
Evercore Reaffirms Alphabet’s Search Dominance as AI Competition Intensifies 
Westpac Director Peter Nash Avoids Major Investor Backlash Amid ASX Scrutiny 
EU Court Cuts Intel Antitrust Fine to €237 Million Amid Long-Running AMD Dispute 
EssilorLuxottica Bets on AI-Powered Smart Glasses as Competition Intensifies 
Trump’s Approval of AI Chip Sales to China Triggers Bipartisan National Security Concerns 
Apple App Store Injunction Largely Upheld as Appeals Court Rules on Epic Games Case 
Microsoft Unveils Massive Global AI Investments, Prioritizing India’s Rapidly Growing Digital Market 
Nvidia Develops New Location-Verification Technology for AI Chips 
Unilever’s ice cream division, led by Magnum, is preparing for a mid-November stock market debut as a stand-alone company. The spin-off, which also includes brands like Ben & Jerry’s, Wall’s and Cornetto, aims to deliver faster growth, streamlined operations, and new product innovation.
The new Magnum Ice Cream Company is targeting 3-5% average annual organic sales growth from 2026, matching Unilever’s long-term outlook but above the division’s historic 3%. The business, which generated €7.9 billion ($9.3 billion) in revenue and €1.3 billion in adjusted EBITDA in 2024, will enter the market with an initial net debt to EBITDA ratio of 2.4x.
Unilever will retain a stake of less than 20%, while the new company is expected to hold just over 20% of the $88 billion global ice cream market, second only to Nestlé-backed Froneri. The market itself is projected to grow to nearly $106 billion by 2029.
Magnum has recently reversed years of stagnation, regaining nearly 21% global share, significantly ahead of rivals like Häagen-Dazs. To boost profitability, the company plans €500 million in productivity savings by cutting overheads, leveraging technology, and optimizing its cold supply chain.
Despite being Unilever’s fastest-growing category in Q2 with 7.1% underlying sales growth, ice cream has historically delivered lower margins than divisions like beauty and personal care. The spin-off reflects Unilever CEO Fernando Fernandez’s strategy to streamline the company’s portfolio, improve efficiency, and enhance shareholder value.
The listing comes amid wider industry shake-ups, with Kraft Heinz, Keurig Dr Pepper, and Nestlé also pursuing restructuring and portfolio adjustments. While health-conscious trends and GLP-1 weight-loss drugs pose potential challenges, Magnum maintains that their impact will be limited.
At stake is investor appetite for a sugar-heavy product line in a shifting consumer landscape, making the spin-off a crucial test for Unilever’s new strategic direction.
