Unilever said it had been forced to delay the spin-off of its €15bn ice cream division by the US government shutdown, which has thrown many planned US listings into limbo.
The company said on Tuesday the US Securities and Exchange Commission was unable to register the shares in the new business to trade on the New York Stock Exchange after the shutdown disrupted the work of federal agencies.
Unilever is hiving off the ice cream division, which produces brands including Magnum and Ben & Jerry’s, this year as new chief executive Fernando Fernández forges ahead with a turnaround plan that will pivot the company away from food towards beauty and personal care.
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