Starbucks (NASDAQ:SBUX) has invited non-binding offers from a select group of potential buyers for a stake in its China operations, with submissions due within the next two weeks, Reuters reported.
The shortlist reportedly includes private equity firms Carlyle, EQT, Bain, and KKR, alongside investment companies Hillhouse Capital, Primavera Capital, and tech giant Tencent.
Starbucks declined to comment when approached, and the private equity firms—Primavera, Carlyle, EQT, KKR, and Bain—also chose not to provide statements. Hillhouse and Tencent did not respond to requests for comment.
This move follows an August report by Bloomberg indicating that Starbucks had narrowed its list to roughly a dozen interested parties, including both PE firms and technology companies.
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