Unilever to consolidate shares on 8-for-9 ratio after Magnum demerger

Dec 8 (Reuters) - Unilever announced on Monday it will consolidate its shares at a ratio of 8 new shares for 9 existing shares, after it completed the demerger of its ice cream business Magnum.

The company completed the demerger of the ice cream unit - whose cold supply chain demands more complex operations than its other food brands - on December 6, making Magnum the world's biggest standalone ice cream business.

The post-consolidation Unilever shares will have a nominal value of 0.035 pounds ($0.0466) each, and are expected to begin trading on the London Stock Exchange on December 9.

Magnum began trading on the Amsterdam stock exchange on Monday at 12.96 euros per share, implying a market capitalisation of $9.24 billion.

($1 = 0.7506 pounds)

(Reporting by Unnamalai L in Bengaluru; Editing by Krishna Chandra Eluri)