Starbucks Sells Control of China Business in $4 B Deal with Boyu Capital
Starbucks has struck a major deal to sell a controlling stake in its China operations to Boyu Capital. The agreement values the business at around $4 billion. Under the deal, Boyu will hold up to 60% of Starbucks’ Chinese retail operations. Starbucks will keep the other 40% and continue to own and license its brand…