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.

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.

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