
Shares of cafe chain Starbucks SBUX.O up 2.5% at $82.98 in extended trading
SBUX says it has agreed to sell control of China operations to Boyu Capital in deal valued at $4 bln
Starbucks says it will hold a 40% stake in the China joint venture
The companies say Starbucks will continue to own and license the Starbucks brand and intellectual property to the new entity
Up to last close, SBUX had fallen ~11% this year