The JV called Beijing Mei Da Coffee was set up in 1999 when Starbucks first entered the China market. At the time, the US cafe giant was restricted by rules governing foreign ownership levels so established a JV with HQ Asia Pacific whereby the private equity firm owned a majority stake in Beijing Mei Da. At the time, Starbucks wrote in an option to increase its stake after five years, at a price to be negotiated. Beijing Mei Da currently operates 60...
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