Fast-moving consumer goods (FMCG) giant Hindustan Unilever’s board on Monday, November 25, gave in-principle approval to demerge its ice cream business into an independent, listed entity.
According to the filing, HUL shareholders will receive shares in the new entity in proportion to their existing holdings in the FMCG major.
HUL has several iconic ice cream brands such as Kwality Wall’s, Cornetto, Magnum and Ben & Jerry’s.
