Unilever ice cream spinoff should free up cash
The consumer goods giant spun off the division behind Magnum (advertised by actress Eva Longoria), Ben & Jerry's and Wall's at the start of this month after snubbing London for an Amsterdam listing earlier this year.
The group – whose brands also include Dove, Comfort and Hellmann's – will update investors on its plans for a fourth quarter listing on Thursday.
Aarin Chiekrie, from broker Hargreaves Lansdown, said the ice cream demerger should 'free up plenty of cash to pay down debts and invest in other, higher-returning areas of the business'.
It is looking to save £700m by cutting 7,500 jobs.
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