Starbucks on Monday announced it is forming a joint venture with Boyu Capital to operate the company's locations in China.Under the terms of the deal valued at $4 billion, Boyu, an alternative asset management firm, will hold up to a 60% interest in the joint venture. Starbucks will hold a 40% stake and maintain its ability to license the brand and intellectual property to the joint venture.The announcement comes after the coffee giant conducted a months-long review of options that included strategic partnerships. Starbucks values its China business at more than $13 billion, the company said. The valuation includes the sale of the controlling stake in...

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