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 (LON:ULVR), the maker of Ben & Jerry's, has chosen Amsterdam as the primary listing location for its ice cream business spinoff, it was confirmed on Thursday. The decision comes after the company unveiled its full-year earnings,

Unilever’s ice cream arm set for Amsterdam main listing in blow to London - 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.

Ben & Jerry's maker Unilever has chosen Amsterdam over London and New York as the primary listing for its ice cream business, it said on Thursday after announcing full-year earnings which underwhelmed investors.

Unilever Plc will list its ice cream unit primarily in Amsterdam, the consumer goods company said, with London and New York getting secondary listings when the maker of Ben & Jerry’s is spun off this year.