Former business secretary urges officials to roll out the red carpet to convince Unilever to launch ice cream division in London
- Greg Clark: Ministers/Business bosses must adopt ‘activist approach’
- Great Britain should not miss Amsterdam or New York
- Clark was part of a charm offensive that convinced Unilever to stay in London
Popular: Unilever wants to abandon its ice cream arm, promoted here by Eva Longoria
A former business secretary has urged officials to roll out the red carpet to convince Unilever to launch its ice cream division in London.
Ministers and bosses at the London Stock Exchange must take an “activist approach” to ensure Britain does not miss out on Amsterdam or New York, Tory MP Greg Clark told the Ny Breaking.
Six years ago, Clark was part of a charm offensive that convinced the maker of Magnum and Ben & Jerry’s not to move its headquarters from London to Rotterdam.
The company was forced to withdraw after a public backlash from shareholders.
Now the consumer goods giant is in talks with three stock exchanges about a possible IPO of its £15 billion ice cream business.
Clark, who was business secretary from 2016 to 2019, said: ‘It was a major vote of confidence in Britain when Unilever chose London as its headquarters.
‘At the time, the government and the LSE were persuasive in communicating to shareholders and to the Board of Directors about the benefits of a London stock exchange listing. I hope they take a similar activist approach on this occasion.”
An IPO in the US or the Netherlands would be a kick in the teeth for the embattled city, which is already dealing with a wave of corporate departures.
London is home to Unilever’s stock exchange listing and the birthplace of Wall’s, which started in an Acton factory in 1922. So far, British officials have not spared many details about how they plan to make the case before London.
But Unilever boss Hein Schumacher has confirmed there have been ‘regular updates with people in the (British) government’. But the Dutch government is confident it is the frontrunner, thanks to commitments from Unilever in 2020 after choosing Britain as its official base.
Last month, Schumacher said he would “examine all options,” and that “dedicated project teams are continuing work at a rapid pace.”
A decision will be made in the next eighteen months.
There are also fears that a private equity predator will take over the company.