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Boyu Seeks US$1.4B Loan to Support Acquisition of Starbucks CN Biz Equity: Wire
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Starbucks (SBUX.US) announced the formation of a joint venture with asset management firm, Boyu Capital, to operate its business in China. Boyu will pay Starbucks around US$4 billion for up to a 60% interest in the joint venture, while Starbucks will hold the remaining 40% stake. Boyu is negotiating with banks to secure a loan of about US$1.4 billion to support this acquisition, Bloomberg quoted sources as saying. It is reported that the financing is likely to be led by Chinese banks and may involve domestic RMB loans, though discussions are ongoing and may change. AASTOCKS Financial News Website: www.aastocks.com |
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