Boyu Capital will hold up to a 60% interest in Starbucks’ retail operations in China through a new joint venture with the coffee seller, the companies said in a statement. (Photo: Qilai Shen/Bloomberg) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Starbucks Corp. agreed to sell a majority stake in its China business to private equity firm Boyu Capital at a $4 billion enterprise value in a bid to improve the coffee chain’s fortunes in the country.

Boyu Capital will hold up to a 60% interest in Starbucks’ retail operations in China through a new joint venture with the coffee seller, the companies said in a statement. Starbucks will hold the remaining 40% interest and will continue to license the brand and intellectual property to the joint venture.

The agreement marks th

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