Starbucks (SBUX) is exploring options for its China business, including a potential stake sale, Bloomberg reported Thursday, citing people familiar with the matter.

The coffee giant, which had over 7,750 stores in China as of March, sent letters to several private equity firms, technology companies, and other potential investors through a financial adviser this week to gauge interest and gather input on growth strategies, sources told Bloomberg.

The report said a deal could value the assets at several billion dollars and initial feedback from potential bidders is expected in the next few weeks.

Starbucks did not immediately respond to MT Newswires' request for comment.

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