According to sources familiar with the matter, Starbucks has requested some shortlisted potential bidders to submit non-binding offers for a partial stake in its China business within the next two weeks.
The sources indicated that Starbucks has invited interested parties, including private equity firms Carlyle, EQT, Hillhouse Capital, and Primavera Capital, to participate in management meetings where the company will disclose financial and operational details of its China operations.
Other potential bidders include Bain Capital, KKR, and technology giant Tencent.
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