Unilever has stated that the demerger from its ice cream business, now known as The Magnum Ice Cream Company (TMICC), will complete on 6 December.

The consumer goods brand announced that it was looking to sell its ice cream division last year, with the aim of saving £694m over three years.

Unilever added that its ice cream businesses, which at the time included Ben & Jerry and Magnum, would be "better delivered under a different ownership structure".

However, this move was delayed in October following the ongoing US federal Government shutdown.

Unilever announced today that following the completion, admission of the ordinary shares in TMICC will be listed and traded in Amsterdam, London and New York from 8 December.

Investment director at AJ Bell, Russ Mould, said that the demerger completes an important part of the company’s turnaround programme.

He concluded: "Unilever’s strategy has involved job cuts and other efficiencies as well as a focus on its so-called Power Brands which account for more than 75% of revenue. These include household names like Hellmann’s, Knorr and Domestos. It has increased investment in brand and product marketing and continues to streamline the business by selling non-core brands and buying new ones.

"The idea is that the ice cream demerger will make the group easier for investors to understand and give management the ability to focus their attention on the remaining businesses which it sees as being more complementary of each other.

"Ice cream sales fluctuate with the seasons and making and storing it requires significant investment as well as unique logistics and facilities compared to most other products found in stores."

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