Starbucks is preparing to receive non-binding bids for a stake in its China business within the next two weeks, according to sources familiar with the matter. The company has invited a shortlist of potential bidders to management presentations, including private equity firms Primavera Capital, Carlyle Group, Hillhouse Capital, and EQT. Other interested parties reportedly include KKR, Bain Capital, and Tencent Holdings. The potential transaction is valued at approximately $10 billion, with Starbucks aiming to retain a meaningful stake in the business while bringing in like-minded partners. The move reflects Starbucks' strategic approach to its operations in China amid evolving market conditions.