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

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.