Unilever will demerge its ice cream business and list it in Amsterdam, London and New York, ending months of speculation over how the company would move ahead with previously announced plans to separate the business.

Unilever, maker of Ben & Jerry's, plans to list its ice cream division in Amsterdam, sidelining London and New York. This decision comes amidst underwhelming earnings and market growth forecasts, leading to a 7% share drop.

Ben & Jerry's maker Unilever has chosen Amsterdam over London and New York as the primary listing for its ice cream business, it said on Thursday after announcing full-year earnings which underwhelmed investors.

Unilever Plc will list its ice cream unit primarily in Amsterdam, the consumer goods company said, with London and New York getting secondary listings when the maker of Ben & Jerry’s is spun off this year.