SEATTLE (dpa-AFX) - Starbucks Corp. (SBUX) is exploring strategic options for its Japan business, including a potential stake sale, Bloomberg reported Wednesday citing people familiar with the matter.
The company has held preliminary discussions with investment banks as it evaluates alternatives for one of its largest international markets, the report quoted people as saying.
The review comes close on the heels of Starbucks closing the sale of a 60% stake in its China business to private equity firm Boyu Capital in April. Japan is one of the company's largest markets, with about 2,100 stores, most of which are directly operated.
On Tuesday, Starbucks shares closed at $97.41, up 2.73%.
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