Starbucks to sell its 50% stake in S Korean venture to E-Mart, GICE-Mart, which currently owns 50 per cent of Starbucks Coffee Korea, will acquire an additional 17.5 per cent interest
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Starbucks logo. Credit: Reuters File Photo
Starbucks Corp said on Monday it would sell the entire 50 per cent 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 per cent of Starbucks Coffee Korea, will acquire an additional 17.5 per cent interest, while Singapore's GIC Private Limited will own 32.5 per cent, Starbucks said.