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 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.