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Investing.com -- Unilever’s ice cream business demerger could take place in early December if The Magnum Ice Cream Company listing receives automatic SEC approval following the publication of its prospectus next month, CFO Srinivas Phatak said on Thursday.
The consumer goods giant is currently delaying the ice cream spin-off due to the ongoing U.S. government shutdown.
Phatak explained that if the shutdown continues for another month, which he described as unlikely, a new SEC rule that allows company statements to become effective automatically could be triggered.
"There is a window available in the unlikely event that over the next one month, the SEC doesn’t return because of the U.S. government shutdown," Phatak said. "Then the alternate route of an automatic approval could kick in. It is not the default option."
The comments provide a potential timeline for the separation of Unilever’s ice cream division, which includes popular brands like Magnum.
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