Starbucks (SBUX) has shortlisted about a dozen parties into the second round of a process to invest in its China business, Bloomberg’s Dong Cao, Haze Fan, Pei Li, Manuel Baigorri, and Daniela Sirtori report. People familiar with the situation say Carlyle (CG), KKR (KKR), Hillhouse Investment and Primavera Capital are among the private equity firms invited to participate, along with JD.com (JD) and Tencent (TCEHY). The shortlisted firms will be given access to the coffee chain’s China financials so they can evaluate and prepare bids in the coming months, according to the people.
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