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Mubadala Invests $1 Billion China's Luckin Coffee

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UAE-based investor Mubadala Investment agreed to make a strategic minority investment worth $1 billion with China's Luckin Coffee amid the expansion of the coffee market in the country, according to a Thursday press release published on Zawya.

Mubadala made the investment, which is subject to customary closing conditions, alongside its controlling shareholder, Centurium Capital.

"We continue to see compelling long-term opportunities in China's consumer sector," Mohamed Albadr, Mubadala's head of Asia, private equity, said.

The Chinese coffee chain currently operates over 36,000 stores globally.

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