Mengniu Said to Mull Selling Stake in Aice Ice-Cream Brand

China Mengniu Dairy Co. is considering selling a minority stake of about 20% in ice-cream brand Aice, people familiar with the matter said.

Mengniu is working with an adviser and gauging interest from potential buyers, the people said, asking not to be identified because the process is private. The company could seek a valuation of about $1 billion for Aice in a deal, they said.