Latest news with #stakeSale
Reuters
09-07-2025
- Business
- Reuters
Indian state-owned banks to raise $5.25 billion in 2025-26 via QIP, source says
July 9 (Reuters) - Indian state-owned banks will raise around 450 billion rupees ($5.25 billion) through qualified institutional placement (QIP) of shares in the 2025-26 financial year, a government source told reporters on Wednesday. State Bank of India ( opens new tab, the country's biggest lender by assets, will launch its QIP soon, the source said. The bank had in May approved raising 250 billion rupees in equity capital this year. The government will also complete its stake sale in IDBI Bank by October and also plans to sell shares in UCO Bank, Bank of Maharashtra, Central Bank of India, Punjab & Sind Bank and Indian Overseas Bank in the financial year, the source added. Prime Minister Narendra Modi's government laid out plans in this year's budget to raise 470 billion rupees through stake sales and asset monetisation. India's finance ministry and SBI did not immediately respond to Reuters requests for comment outside office hours. ($1 = 85.6900 Indian rupees)
Yahoo
09-07-2025
- Business
- Yahoo
Starbucks China Draws Bids Valuing It Up to $10B, Report Says
Starbucks is reportedly looking to sell a stake in its Chinese operations. Citing people familiar with the deal process, CNBC reported that Starbucks China has attracted offers for a potential stake sale that value the unit between $5 billion and $10 billion. Starbucks' Chinese business has been grappling with intense competition from lower-priced local players, including Luckin (SBUX) reportedly is looking to sell a stake in its China operations. Citing people familiar with the deal process, CNBC reported that Starbucks China has attracted offers for a potential stake sale that value the unit between $5 billion and $10 billion. "Almost 30 domestic and foreign private equity firms in China have submitted non-binding offers," the report said, adding that Starbucks may retain a 30% stake. According to Bloomberg, which cited people familiar with the matter, most prospective investors in Starbucks' Chinese business "are eyeing a controlling stake in the operation." Addressing lagging sales in China was a key issue Starbucks CEO Brian Niccol had to address after he took over the role last September. Starbucks' Chinese business has been grappling with intense competition from lower-priced local players, including Luckin Coffee. Starbucks didn't immediately return Investopedia requests for comment. Starbucks shares, which entered Wednesday up 4% this year, are about 1.5% higher in premarket trading. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
09-07-2025
- Business
- Reuters
Starbucks China attracts bids at up to $10 billion valuation, CNBC reports
July 9 (Reuters) - Starbucks' (SBUX.O), opens new tab China business has attracted 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. Asia-based private equity firms Centurium Capital and Hillhouse Capital as well as U.S. peers Carlyle Group (CG.O), opens new tab and KKR & Co (KKR.N), opens new tab are among the contenders vying for a stake in Starbucks' China business, the report added. There is a possibility of Starbucks retaining a 30% stake, with the rest split among a group of buyers, each holding less than 30%, the CNBC report said. Starbucks, Centurium, Hillhouse, Carlyle and KKR did not immediately respond to Reuters requests for comment. Reuters could not immediately verify the report. Starbucks said last month that it is not currently considering a full sale of its China operations, after the coffee maker kicked off a formal sale process of its China operations in May. Almost 30 domestic and foreign private equity firms in China have submitted non-binding offers and Starbucks is in the process of evaluating the offers, deal structure proposals and value creation pitches from the bidders, the report said. The bidders could be shortlisted within two months, but the entire deal is unlikely to be completed by the end of this year, CNBC said.
Yahoo
09-07-2025
- Business
- Yahoo
Starbucks China attracts bids at up to $10 billion valuation, CNBC reports
(Reuters) -Starbucks' China business has attracted offers for a potential stake sale, valuing the coffee chain at up to $10 billion, CNBC reported on Wednesday, citing people familiar with the matter. Centurium Capital, Hillhouse Capital and U.S. private equity firms Carlyle Group and KKR & Co are among the contenders vying for a stake in Starbucks' China business, the report added. Reuters could not immediately verify the report.
Yahoo
05-07-2025
- Business
- Yahoo
Britain's Octopus Energy considers 14 billion dollar demerger of tech arm Kraken, Sky News reports
(Reuters) -Britain's Octopus Energy is close to hiring bankers to oversee a 10 billion pounds ($13.65 billion) separation and stake sale of its technology arm Kraken Technologies, Sky News reported on Saturday, citing sources familiar with the matter. Reuters could not immediately verify the report. ($1 = 0.7325 pounds) Sign in to access your portfolio
