Unilever's long-awaited Magnum Ice Cream IPO has been delayed after the US government shutdown halted SEC approvals, putting the £65 billion spinoff on ice.

Unilever has postponed the demerger of Magnum Ice Cream due to the US government shutdown, which halted SEC processes needed for a New York listing.

The CPG giant still expects the divestiture of the unit, which includes Klondike and Ben & Jerry’s, to be completed this year.

Unilever delays the spin-off of its Magnum ice cream business due to the U.S. government shutdown, highlighting its widespread disruption to corporate activity and the economy.

Under the approved Scheme of Arrangement, HUL will transfer its entire ice cream business—including brands such as Kwality Wall’s, Cornetto, Magnum, Feast, and Creamy Delight—to the new subsidiary.