Starbucks is moving into the final stages of its planned sale of a stake in its China business, with major private equity firms including Carlyle Group and EQT among those preparing final bids, according to a report by Reuters.
The report cites unnamed people familiar with the matter as revealing that other final stage bidders include HongShan Capital (formerly Sequoia China), Boyu Capital and Primavera Capital, with Final offers expected by early October.
The sale, advised by Goldman Sachs, could value Starbucks’ China operations at up to $5bn.
While the exact size of the stake remains under negotiation, Starbucks is expected to maintain a significant holding and retain control of its coffee bean roasting facility in China for quality assurance purposes.
