Starbucks sells control of its China business for $4 billion!
Starbucks said on Monday that it will sell the control of its China business to investment company Yibo Capital for $4 billion, which is one of the highest valuations for global consumer goods companies' operations in China in recent years.
According to the agreement, Starbucks will form a joint venture with Yibo Capital, holding 60% of the shares in Starbucks' retail business in China. Starbucks will retain 40% of the shares in the joint venture, and will continue to own the brand and intellectual property, licensing them to the new entity.
Starbucks expects the total value of its China retail business to exceed $13 billion, including the proceeds from selling the controlling stake in the joint venture to Yibo Capital, as well as the value of Starbucks' retained interest in the joint venture.
Original article: www.toutiao.com/article/1847824966928396/
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