According to sources familiar with the matter, China's MENGNIU DAIRY is reportedly considering the sale of approximately 20% stake in ice cream brand Aice. The sources indicated that MENGNIU DAIRY is working with an advisor to assess potential buyer interest, with the company potentially seeking a valuation of around $1 billion for Aice in the related transaction. The sources requested anonymity as the matter has not been made public.

MENGNIU DAIRY stated that Aice, which focuses on Southeast Asian markets, is the leader in Indonesia's snack-type ice cream market and ranks second in the Philippines market. Aice also sells products in Vietnam, Thailand, Laos, Cambodia, and East Timor. MENGNIU DAIRY reported that Aice generates annual revenue exceeding 3 billion yuan ($418 million).

According to the sources, discussions regarding the potential sale are still ongoing, and MENGNIU DAIRY may decide not to proceed with the transaction. MENGNIU DAIRY did not immediately respond to requests for comment. A representative from Aice stated that no sale is currently taking place.