The decision was taken this week, “since it is not likely to create significant obstacles to effective competition in the national market or a substantial part thereof,” the AdC states.
On December 3rd, TMICC notified the AdC of the purchase of control over UL Ice Cream Comercial, in a transaction concerning Unilever’s ice cream business.
The merger consists of TMICC acquiring “control over UL Ice Cream Comercial Lda., to which the commercialization and sale of ice cream from Unilever Fima, Ltda., and indirectly the ice cream production activity of Fima Olá – Produtos AlimentÃcios, will be transferred,” according to information released by the AdC (Portuguese Competition Authority).
TMICC is part of the Unilever Group’s Global Ice Cream Business and operates as an autonomous unit. This business is “currently controlled by Unilever and is in the process of total separation from Unilever’s other business groups (Global Spin-off),” indicates the AdC.
“As part of the Global Spin-off, the Global Ice Cream Business will join a new listed entity to be incorporated in the Netherlands (Magnum Listco), which will be the controlling company of TMICC, with its shares expected to be listed in Amsterdam, London and New York by mid-December 2025,” according to the Competition Authority. UL Ice Cream Comercial is the company to which the commercialization and sale of Unilever Fima’s ice cream will be transferred, and indirectly, the ice cream production activity of Fima Olá.