United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
SpaceX Edges Toward Landmark IPO as Elon Musk Confirms Plans 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
GameStop Misses Q3 Revenue Estimates as Digital Shift Pressures Growth 
Gulf Sovereign Funds Unite in Paramount–Skydance Bid for Warner Bros Discovery 
SoftBank Eyes Switch Inc as It Pushes Deeper Into AI Data Center Expansion 
Samsung SDI Secures Major LFP Battery Supply Deal in the U.S. 
EU Court Cuts Intel Antitrust Fine to €237 Million Amid Long-Running AMD Dispute 
Evercore Reaffirms Alphabet’s Search Dominance as AI Competition Intensifies 
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.
