Shinsegae Group is negotiating to buy additional shares
ANI
27 Jul 2021, 11:55 GMT+10
Seoul [South Korea], July 27 (ANI/Global Economic): E-Mart is reportedly speeding up its acquisition of an additional stake in Starbucks Korea.
According to the distribution industry on Monday, Shinsegae Group is planning to purchase an additional 50 per cent stake of Starbucks Korea from Starbucks International, its US headquarters. It is reported that 30 per cent of shares are likely to be acquired by the Singaporean sovereign wealth fund (GIC). E-Mart is negotiating to acquire a stake held by Starbucks International, a Shinsegae Group s official said. The details or schedule have not been confirmed. Currently, Starbucks International and E-Mart each hold 50 per cent of Starbucks Korea s shares. Shinsegae Group has been negotiated since last year to acquire a 50 per cent stake held by Starbucks International. If Shinsegae Group successes to acquire the additional stake held by Starbucks In
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