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 will spin out its ice cream division, choosing Amsterdam for its primary listing, affecting UK stock market appeal. The demerger includes brands like Magnum and Wall's. Despite European and US secondary listings,

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.