Starbucks is exploring stake sales in its China operations in a bid to revive slowing sales in its second-largest market, Reuters reported Tuesday.

Potential buyers include KKR & Co, Fountainvest Partners, and PAG. Chinese firms, including China Resources Holdings and Meituan (HKG:3690), were also approached, according to the report.

Sources said Starbucks' finance chief, Rachel Ruggeri, is expected to visit China soon for sale talks, Reuters wrote. The size of the stake and deal structure remain undetermined, with Starbucks likely preferring a franchisee model with a strategic partner, valuing its China business at more than $1 billion.

Starbucks aims to finalize a deal by the end of 2025, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)