This is the second time the US coffee shop giant has increased its equity stake in a local joint venture.
 

In 2003, Starbucks reportedly paid US$21.3 million to raise its 5 per cent stake to 50 per cent in Shanghai Uni-President Starbucks Coffee Ltd, a joint venture that was 95 per cent-owned by Taiwan-based Uni-President Group.

Shanghai Uni-President Starbucks Coffee Ltd is responsible for Starbucks' operations in Shanghai and neighbouring Jiangsu and Zhejiang provinces.

The possibility of Starbucks further raising its stake in the Shanghai venture remains, according to Coles, but he would not elaborate.

H&Q Asia Pacific, an Asia-focused private equity firm that has US$2.1 billion in assets under its management, bought a majority stake in Beijing Mei Da in 1998 for US$10 million, according to Bloomberg reports, citing Vincent Pun, senior research manager at Asian Venture Capital Journal in Hong Kong.

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