Magnum Ice Cream Company N.V. said it plans to buy back up to approximately €110 million worth of its own shares, or roughly 6.6 million ordinary shares at current prices.
The Amsterdam-listed company, which trades on Euronext under the ticker MICC, said the repurchase is intended to satisfy obligations under its long-term incentive plans. The acquired shares will be delivered to the company's employee benefit trust.
The transactions will be carried out through forward transactions in compliance with the EU Market Abuse Regulation and other applicable requirements, the company said. Additional details regarding the transactions will be provided at a later date.
Magnum Ice Cream operates in 80 markets globally, employs approximately 19,000 people and runs 32 factories and 13 research and development centres worldwide. Its portfolio includes the Magnum, Ben & Jerry's, Cornetto and Heartbrand labels.
