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Investing.com -- Private equity firm Boyu Capital has emerged as the leading contender to acquire a controlling stake in Starbucks Corp.’s China business, as the coffee giant seeks to revitalize operations in its second-largest market.
Boyu has reportedly outbid other private equity firms, including Carlyle Group Inc., according to Bloomberg News, citing people familiar with the discussions. The potential transaction could value Starbucks’ Chinese operations at more than $4 billion.
The negotiations between Starbucks and Boyu may require several months to finalize terms, and the talks could still end without an agreement. Internet companies might also join as limited partners to help finance the acquisition, the sources said.
This potential partnership comes as Starbucks looks to strengthen its position in China, which represents its second-biggest market globally. Neither Starbucks nor Boyu has officially commented on the matter, while Carlyle Group declined to provide a statement when contacted.
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