Starbucks Draws Interest for Controlling Stake in China Unit

Starbucks Corp. has received proposals from prospective investors in its China business, most of whom are eyeing a controlling stake in the operation, said people familiar with the matter.

The Seattle-based company is now in the process of sifting through proposals and shortlisting a group of potential investors for a next round of bidding, the people said, asking not to be identified because the matter is private. The company may share financial and operating details with those bidders to help them assess the valuation of its Chinese assets, the people said.