• Apollo Global Management Inc is reportedly in discussions to acquire a minority stake in the Starbucks franchise operated by AlShaya Group in the Middle East, North Africa, and central Asia, according to sources familiar with the matter. Referred to as "Project Emerald," the retailer is seeking to sell approximately 30% of its business, as previously reported by Reuters. The Public Investment Fund (PIF) of Saudi Arabia, previously shortlisted for the stake, remains engaged in the negotiations.

• The Starbucks unit, spanning 13 countries in the Middle East, North Africa, Kazakhstan, and Azerbaijan, operates approximately 2,000 outlets. Valued between $4 billion and $5 billion in 2022, the franchise faced geopolitical challenges, impacting sales in the region and the United States.