Mubadala backs Chinese coffee chain in large deal

Abu Dhabi-based Mubadala Investment Company plans to support the Chinese coffee chain "Lokkin Coffee" with an investment of one billion dollars through an indirect stake after purchasing a share in the company via "Sentrium Capital." The deal grants Mubadala the right to appoint one member to Lokkin Coffee's board of directors. The chain, founded in 2017, has expanded its operations to over 36,000 stores across China, achieving a 23% increase in profits in the second quarter and reaching a market value of approximately $9.7 billion. Despite selling its shares on NASDAQ in 2020, Lokkin Coffee continues to expand, with expectations of a future re-listing.

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