Starbucks to buy remaining stake in East China JV for $1.3 bln

President Chain Store

27/07/2017 12:24

July 27 (Reuters) - Starbucks Corp  SBUX.O  said on Thursday 
it would buy the remaining 50 percent share of its East China 
business from its joint venture partners for about $1.3 billion 
in cash. 
    The acquisition from Uni-President Enterprises Corp 
 1216.TW  and President Chain Store Corp  2912.TW  will give 
Starbucks ownership of about 1,300 Starbucks stores in Shanghai 
and Jiangsu and Zhejiang provinces.  urn:newsml:reuters.com:*:nBw7Hlwjqa 
 
 (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Sai 
Sachin Ravikumar) 
 ((sruthi.ramakrishnan@thomsonreuters.com; Within U.S.+1 646 223 
8780, outside U.S. +91 80 6749 1130; Reuters Messaging: 
sruthi.ramakrishnan.thomsonreuters.com@reuters.net)) 
 
Keywords: STARBUCKS JOINTVENTURE/