Boyu Capital Considers Involving Tencent, GIC in Starbucks China Stake Acquisition
Deep News
Nov 18
According to informed sources, Boyu Capital is exploring the possibility of bringing in Tencent Holdings, Singapore's sovereign wealth fund GIC, and other potential investors as limited partners to jointly acquire a stake in Starbucks' China operations.
The private equity firm has already agreed to purchase up to 60% of Starbucks' China business. Sources indicate that Boyu aims to drive growth in Starbucks' second-largest market by expanding its presence in smaller Chinese cities. The firm also plans to open more outlets in high-traffic locations such as tourist attractions, subway stations, and airports.
Negotiations are still ongoing, and a final agreement may not be reached, the sources added.
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