Boyu in Starbucks China partnership talks with Tencent and GIC

Boyu Capital is in talks to bring in Tencent, Singapore’s GIC and possibly other investors as limited partners in its planned investment in Starbucks’ China business, as reported by Bloomberg. The US coffee chain recently agreed to sell a majority stake in its China retail operations to Boyu for $4bn. The transaction involves the creation of a joint venture in which the private equity company would own up to 60% of Starbucks’ retail business in the country. Starbucks will retain a 40% stake and will con ...