British consumer goods giant Unilever has postponed a demerger of its ice cream business, saying Tuesday that the US government shutdown meant a New York listing could not be approved.
The new standalone firm, The Magnum Ice Cream Company, which includes also the Ben & Jerry鈥檚 brand, had been on track to begin operating by mid-November.
Unilever said Tuesday it remained 鈥榗onfident of implementing the demerger鈥� this year, saying the delay was 鈥榓 result of the ongoing US federal government shutdown鈥�.
Unilever said that the US Securities and Exchange Commission is 鈥榰nable to declare effective the US registration statement required for The Magnum Ice Cream Company鈥�.
This prevents its shares from being listed and traded on the New York Stock Exchange, Unilever noted.
At 20 days, the United States is enduring its longest full government shutdown 鈥� the third-longest if partial stoppages are included.