Starbucks Sold China Control to Bidder Pledging Stability

Starbucks Corp. decided to sell a majority stake of its struggling China unit to Boyu Capital after the Chinese private equity firm convinced the coffee chain it could grow the...

By Dong Cao, Daniela Wei · Bloomberg Markets

Starbucks Corp. decided to sell a majority stake of its struggling China unit to Boyu Capital after the Chinese private equity firm convinced the coffee chain it could grow the business with its existing management team, according to people familiar with the process.