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Starbucks to exit S.Korea venture valued at over $2 billion reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
This Oct. 27 file photo shows a sign at a Starbucks Coffee store in south Seattle. (AP Photo) Starbucks Corp. said on Monday it will exit any direct ownership in South Korea, its fifth-largest market, selling the 50 percent stake it owns in a joint venture to local partner E-Mart Inc. and Singapore’s sovereign wealth fund, GIC. E-Mart, which currently owns 50 percent of Starbucks Coffee Korea, said it would acquire an additional 17.5 percent stake that would be worth 474 billion won ($411.89 million). That also suggests a $2.35 billion valuation for Starbucks Coffee Korea, Reuters calculations showed. GIC will own the remaining 32.5 percent of the venture, Starbucks said. ....
Starbucks to exit S Korean venture valued at over $2b dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.
E-Mart decides to buy bigger stake in Starbucks Coffee Korea koreatimes.co.kr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreatimes.co.kr Daily Mail and Mail on Sunday newspapers.
Tuesday, 27 Jul 2021 12:35 PM MYT The US coffee chain operates more than 1,500 stores across 78 cities in South Korea. ― Reuters pic Follow us on Instagram and subscribe to our Telegram channel for the latest updates. SEOUL, July 27 Starbucks Corp said on Monday it will exit any direct ownership in South Korea, its fifth-largest market, selling the 50 per cent stake it owns in a joint venture to local partner E-Mart Inc and Singapore’s sovereign wealth fund, GIC. E-Mart, which currently owns 50 per cent of Starbucks Coffee Korea, said it would acquire an additional 17.5 per cent stake that would be worth 474 billion won (RM1.7 billion). ....