Starbucks China Draws Bids Up to $10B Valuation - Major Deal Ahead!

Starbucks' (SBUX.O) China business has received offers for a potential stake sale valuing the coffee chain unit at up to $10 billion, CNBC reported on Wednesday, citing people familiar with the matter.

The report noted that Asia-based private equity firms Centurium Capital and Hillhouse Capital, along with U.S. counterparts Carlyle Group (CG.O) and KKR & Co (KKR.N), were among the bidders looking to acquire a stake in Starbucks' China business.

According to the CNBC report, Starbucks could retain a 30 percent stake, while the remainder—and potentially a mix of buyer groups—could retain stakes, each less than 30 percent.

• Starbucks China Receives $10B Bids from Top Private Equity Firms
• Centurium, Hillhouse, Carlyle, and KKR Compete for Starbucks China Stake
• Starbucks Eyes Partial Sale of China Operations Amid $10B Offers

Starbucks, Centurium, Hillhouse, Carlyle and KKR did not immediately respond to Reuters requests for comment on the report.

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Starbucks said last month it is not currently looking to pursue a full sale of its China operations after it kicked off a formal sale process of its China operations in May.

According to the report, approximately 30 domestic and foreign private equity firms in China have submitted non-binding offers, and Starbucks is currently reviewing the potential offers, deal structure proposals, and value creation pitches of the bidders.

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The bidders could potentially be shortlisted within two months, although the entire deal will likely not be completed by the end of this year.