Starbucks to Sell Stake in China Business

Starbucks SBUX 0.11%increase; green up pointing triangle is selling a majority stake in its China business to Boyu Capital, a deal that brings an outside partner to oversee its second-largest market.

The coffee giant said Monday that Boyu will hold up to a 60% stake in its retail operations in China, while Starbucks will retain 40% and continue to own and license its brand and intellectual property.