Starbucks sells majority stake in China business in $4bn deal
Source: BBC
Starbucks says it is selling a 60% stake in its business in China as part of a $4bn (£3.04bn) deal with investment firm Boyu Capital.Under the agreement, the world's biggest coffee chain will have a 40% stake in the Chinese retail operation and retain ownership of the Starbucks brand there.Starbucks entered China more than a quarter of a century ago and the country is now its second-largest market outside the US,…
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