Starbucks China Attracts High-Value Bids

According to a recent CNBC report, Starbucks China has received bids valuing the company at an impressive $10 billion. The coffee chain is currently sifting through a variety of proposals to shortlist potential investors for the next phase of bidding.

Commitment to China Remains Strong

"Our dedication to the Chinese market is unwavering, and we aim to maintain a significant stake in our operations there. Any potential deal must align with Starbucks' business goals and benefit our partners," a spokesperson for Starbucks emphasized.

Private Equity Interest Peaks

Insiders reveal that around 30 private equity firms have submitted non-binding offers, with valuations ranging between $5 billion and $10 billion. The final offers are expected to lean towards the higher end of this spectrum.

CEO Shares Insights on China Operations

Starbucks CEO Brian Niccol previously mentioned to the Financial Times the high level of interest from various parties in acquiring shares of the company's China operations, highlighting Fountainvest Partners and PAG among the keen investors.