Starbucks to sell stake in Korean venture to E-Mart, GIC

Finance | 27 Jul 2021 10:47 am

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

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



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