JAKARTA - PT The Magnum Ice Cream Indonesia officially manages the ice cream business previously run by PT Unilever Indonesia Tbk (UNVR). This transfer is part of Unilever PLC's move to separate the ice cream business as a separate entity.

Based on the results of the Independent General Meeting of Shareholders (GMS) on Friday (4/4), shareholders agreed with the plan to separate the ice cream business. The approval was supported by shareholders representing 2.65 billion or 77.923% of UNVR's total listed shares. Meanwhile, shareholder attendance represented 3.36 billion shares or 93.807% of the listed shares.

The Magnum Ice Cream will be under the control of TopCo Ice Cream. In the future, share ownership in TopCo Ice Cream can also be transferred to third parties that are not affiliated with Unilever PLC.

Currently, The Magnum's authorised capital consists of IDR10 billion, with issued and fully paid capital of IDR10 billion. The Magnum Ice Cream Company HoldCo 1 Netherlands BV controls 99.99% of the shares and The Magnum Ice Cream Company HoldCo 2 Netherlands BV 0.1%.

Previously, UNVR announced an agreement to transfer assets and the ice cream business worth IDR 7 trillion. One of the conditions in this agreement is the approval of independent shareholders. The transaction value is above the market value, which was recorded at IDR6.54 trillion, the company said.

The Magnum Ice Cream's market value includes fixed assets of IDR2.55 trillion, net book value as of September 2024 of IDR1.99 trillion, and inventory value of IDR172.79 billion. (LK/LM)