Ben & Jerry's maker Unilever said on Thursday it would spin out its ice cream business and picked Amsterdam for its primary listing, with London and New York as secondary listings, in a potential blow to British finance minister Rachel Reeves.

Unilever (UL) will list its demerged ice cream business in Amsterdam, London and New York, the company said today as it posted underwhelming

The Ben & Jerry’s and Magnum maker announced plans last year for a demerger of the ice cream arm as part of a major turnaround plan.