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Starbucks sells majority stake in China business, valued at $4B

Starbucks said Monday it sold a majority stake in its China business to Boyu Capital in a deal that values the business at 4billion.Boyuwillowna604 billion. Boyu will own a 60% stake in the business, with Starbucks holding the remainder. The coffee chain expects the total value of its China business to surpass 13 billion, including ongoing licensing agreements in the region, along with its remaining stake in the unit. "Boyu's deep local knowledge and expertise will help accelerate our growth in China, especially as we expand ...