Starbucks to sell its 50% stake in S.Korean venture to E-Mart, GIC


Reuters | Updated: 27-07-2021 10:01 IST | Created: 27-07-2021 08:16 IST
Starbucks to sell its 50% stake in S.Korean venture to E-Mart, GIC
Starbucks Image Credit: Flickr

Starbucks Corp said on Monday it would sell the entire 50% stake it owns in its South Korean venture to local partner E-Mart Inc and Singapore sovereign wealth fund GIC.

E-Mart, which currently owns 50% of Starbucks Coffee Korea, will acquire an additional 17.5% interest, while Singapore's GIC Private Limited will own 32.5%, Starbucks said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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