Starbucks Said to Have Shortlisted Potential Investors for Its China Business, with Tencent and Hillhouse Entering the Second Round

According to sources cited by media outlets, Starbucks has screened potential investors for its Chinese business operations, including private equity firms and technology companies among several dozen companies entering the second round. They reveal that some private equity firms, such as Boyu Capital, KKR, Hillhouse, FountainVest, and Primavera Capital, as well as tech giants like JD.com and Tencent Holdings, have been invited to participate. The sources say that participating companies will be able to obtain Starbucks' Chinese financial reports in order to assess and prepare bids within the next few months. Negotiations are still underway and may not result in any transaction. Sources say that once negotiations progress further, other industries and financial investors may also join.