Starbucks will buy out its former partners Uni-President Enterprises Corp. and President Chain Store Corp.
The purchase will give Starbucks full control over 1,300 stores in the Shanghai, Jiangsu and Zhejiang provinces.
Starbucks shares were up 0.5% to $58.23 in premarket trading on the news Thursday. The stock is up 4.36% year to date but is down 0.46% over the past 12 months.
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