智通财经网·2025-11-19 03:54Core Viewpoint - Boyu Capital is considering bringing in Tencent, GIC, and potentially other institutions as limited partners to jointly acquire a stake in Starbucks' China business, aiming to enhance growth in this significant market [1][2]. Group 1: Acquisition Details - Boyu Capital has agreed to acquire up to 60% of Starbucks' China business and plans to expand its store network in third- and fourth-tier cities [1]. - The firm also intends to open stores in high-traffic tourist spots, subway stations, and airports to drive growth [1]. - The valuation of Starbucks' retail business in China is approximately $4 billion [2]. Group 2: Financial Arrangements - Boyu Capital is in discussions with several banks for a loan of about $1.4 billion to support the acquisition of Starbucks' China business [2]. - The joint venture agreement between Starbucks and Boyu Capital is expected to be finalized in the second quarter of next year [3]. Group 3: Market Context - Starbucks has opened around 8,000 stores in China since entering the market in 1999 and plans to expand this number to 20,000 [2]. - The company is responding to intense competition from local rivals by partnering with local entities to boost its business in China [2].