Algida to put Magnum up for sale

London-based global consumer goods giant Unilever has made a historic decision regarding Algida, one of the world's most popular ice cream brands.

Having laid off 6,000 employees as part of a downsizing plan announced last year, the firm is preparing to cut another 1,500 jobs this year. Before the restructuring, Unilever had approximately 6,000 employees in the UK and 128,000 worldwide.

WILL EXIT ICE CREAM BUSINESS BY SELLING MAGNUM

According to a report by Patronlar Dünyası, Unilever plans to spin off its world-famous ice cream brand, Magnum, into a separate company and exit the ice cream business.

Unilever announced that it is continuing efforts to separate and list its Ben & Jerry's and Magnum ice cream division by the end of this year under the name The Magnum Ice Cream Company, and that it will operate as an independent business starting July 1.

GREAT INTEREST FROM FUND OWNERS

The primary listing of the business will be in Amsterdam, with secondary listings in London and New York.

Fernando Fernandez, who was recently appointed as CEO of Unilever, stated regarding these decisions, "Increased global macroeconomic uncertainty is a reality; however, the quality of our innovation program, the strong investment behind our brands, and our increasing competitiveness give us confidence that we will achieve our full-year plans."

The company's shares have gained 25 percent in value over the last year, and a majority stake is expected to be acquired by international investment funds.