Starbucks completes joint venture with Bo Yu Investments.

Starbucks has completed a joint venture transaction with Belibu Investment, selling 60% of its equity in its Chinese retail business. Starbucks will retain 40% of its equity in the Chinese retail business. The joint venture company will be responsible for managing approximately 8,000 company-operated coffee shops. Starbucks will continue to be the owner and licensor of the global brand. Starbucks and Belibu will enter the operational phase of the joint venture entity.