GIC set to buy stake in Starbucks Korea for $700 mn
The sovereign wealth fund may consider Starbucks Korea s IPO as an exit option By
Singapore s sovereign wealth fund GIC Private Ltd. is set to sign an agreement next week to buy a 30% stake in Starbucks Korea from the coffeehouse chain s parent company for 800 billion won ($700 million), according to investment banking sources.
As part of the upcoming deal, Seattle-based Starbucks Corp. is selling its remaining 20% stake in the South Korean joint venture to E-Mart Inc. which will eventually end up with a 70% stake in Starbucks Korea. E-Mart is Shinsegae Group s supermarket chain.
Read more about Coffee chain Starbucks applies for naming rights with US trademark office on Business Standard. In a June 2 application, the coffee chain sought approval to use its name in "providing stadium and training facilities for sports and entertainment activities"
Starbucks has sought approval to use its name in "providing stadium and training facilities for sports and entertainment activities" and "promoting business, sports and entertainment events of others."
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