Reported 2 days ago
Starbucks has invited a group of shortlisted potential bidders to submit non-binding bids for a stake in its China business within the next two weeks. This move comes as the coffee chain seeks to rejuvenate its presence in a market where its share has declined amid increased competition from local brands. The company has reportedly engaged multiple private equity firms and aims to finalize a deal by year-end, while expressing a commitment to retaining a significant stake in its operations in China.
Source: YAHOO