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Starbucks Mulls Expanding Operations in CN, May Sell Stake or Introduce Partners: Wire
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Starbucks (SBUX.US) is in discussions with advisors on how to expand its operations in China, including the possibility of selling a stake or bringing in a local partner, but no decision has been made yet on whether to proceed or not, Bloomberg reported, citing sources. According to informal assessments, potential interested investors include domestic private equity firms, as well as Chinese companies or other local firms with experience in the industry. A spokesperson for Starbucks said that the company is fully committed to its business and partners, as well as its development in China, and is striving to seek the best growth path, including exploring strategic partnerships. Previously, activist investor Elliott Investment Management had pressured Starbucks to evaluate its operations in China. In the last few years, McDonald's (MCD.US) and Yum China (YUM.US) divested their China operations, selling stakes to private equity firms to expand growth and better cater to Chinese tastes. AAStocks Financial News |
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