The US coffee giant wants to more than double its presence in China with the help of private equity firm Boyu Capital.
The US coffee giant wants to more than double its presence in China with the help of private equity firm Boyu Capital.
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Starbucks has announced it will sell the majority stake in its Chinese business for $4bn to a Hong Kong-based private equity firm after years of losing market share to local competitors in China.
Starbucks announced the sale on Monday, which will see the firm Boyu Capital take a 60 percent stake in its Chinese retail operations through a joint venture.
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