Starbucks Is Said to Consider Selling Stake in Chinese Unit [BNN Bloomberg (Canada)]
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Starbucks Corporation (SBUX)
Last starbucks corporation earnings: 4/28 04:05 pm
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Source: BNN Bloomberg
The coffee chain has been speaking to advisers about ways to grow its operations in China including the potential introduction of a local partner, the people said, asking not to be identified because the information is private. It has informally gauged interest from prospective investors, including domestic private equity firms, the people said. A stake sale could also attract interest from Chinese conglomerates or other local companies with experience in the industry, some of the people said. Starbucks is still evaluating its options and hasn't made a decision about whether to proceed, the people said. Shares of Starbucks were little changed in early trading before the New York market opened. The stock is down about 5% in the past 12 months through Wednesday's close. Starbucks has faced pressure from activist Elliott Investment Management, which wants it to commit to reviewing its Chinese business, Bloomberg News has reported. In previous years, McDonald's Corp. and Yum! Brand
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