Unilever India to Spin Off Ice Cream Business Into Listed Arm

Unilever’s India unit will spin off its ice cream business into a listed firm to unlock its full potential, as a part of a global shakeup in the segment.

“The demerger of the ice cream business will create a leading listed ice cream company in India,” Hindustan Unilever Ltd. said in a statement Monday, adding that this will “have focused management with greater flexibility to deploy strategies suited to its distinctive business model and market dynamics.”

HUL shareholders will get shares in the new entity in proportion to their holding in the company, it said in the statement, without specifying ...