Starbucks Corporation has announced an agreement to form a joint venture with Boyu Capital to operate Starbucks retail stores in China. Under the terms of the agreement, Boyu Capital will acquire up to a 60% interest in Starbucks' retail operations in China, while Starbucks will retain a 40% stake. Starbucks will continue to own and license its brand and intellectual property to the new entity. The transaction, which marks a significant milestone in Starbucks' ongoing transformation and commitment to long-term growth in China, is expected to close in the spring, subject to regulatory approvals.

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