- Unilever Plc (NYSE:UL) owned Ben & Jerry’s has sued its owner to stop the sale of its Israeli business to a local licensee, CNBC reported.
- The move is said to help keep Ben & Jerry’s ice cream products available in Israel.
- The brand said Unilever decided on the sale without the approval of its independent board.
- The report added that a judge on Tuesday denied Ben & Jerry’s application for a temporary restraining order but ordered Unilever to show cause by July 14 for why a preliminary injunction should not be issued.
- The conflict was set off in 2021 when Ben & Jerry’s said it would stop sales in the West Bank territory occupied by Israel since 1967.
- Related: Ben & Jerry’s Disagrees With Unilever Divesting Brand To Israel Local Licensee: FT
- But Unilever went ahead with the sale as it said it reserved primary responsibility for financial and operational decisions.
- Price Action: UL shares are trading higher by 0.35% at $46.00 in premarket on the last check Wednesday.
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