Magnum Ice Cream

Terry Smith, founder of Fundsmith, has sold his entire stake in Magnum Ice Cream, a Unilever spin-off, just weeks after exiting his stake in its former parent company.

Summary of transaction details:

• Value: Not disclosed
• Sector: Consumer Goods
• Advisor: Not disclosed
• Key Entities: Terry Smith, Magnum Ice Cream, Unilever
• Location: Not disclosed

Note: The sale comes after Unilever spun off its ice cream business, which has had a mixed start to life as a standalone company. Magnum Ice Cream has attracted interest from buyout giants Blackstone and CD&R, which has helped to prop up its shares.