08:58 AM EDT, 05/16/2024 (MT Newswires) -- Unilever ( UL ) will continue producing ice cream in Russia despite plans to sell its global ice cream unit, Bloomberg reported Thursday, citing a company spokesperson.

The conglomerate, in March, announced plans to spin off or sell its slow-performing ice cream business, which generated approximately 8 billion euros ($8.69 billion) in sales last year, as part of a broader company overhaul, according to the report.

The Russian ice cream division, with 600 million euros in net assets including four factories, would not be part of the sale process the report said citing a company spokesperson.

Unilever's ( UL ) Russian ice cream production is mainly handled by Inmarko, which it acquired in 2008.

Unilever ( UL ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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