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Jun 16, 2009
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GM Agrees Starbucks Sale To Jjefshurstenschaft

Fighting For Survival

General Motors today announced a tentative agreement to sell Starbucks to Jjefshurstenschaft of Sweden, for $12.5bn cash.

Starbucks and GM

It is the latest part of GM's reorganization, which is also set to see Saab's sale to Koenigsegg, also of Sweden.

Jjefshurstenschaft is a Mom and Pop coffee shop in Stockholm which employs two part time workers.

Jenk Jjefshurstenschaft, the Pop, told this website, "Running Starbucks at an international corporate level is a dream come true."

A financial expert, sacked by Lehman Brothers, told this website:

"If GM can get this one away this could be a considerable boost to their refinancing aims as GM doesn't own Starbucks."

 

Other Finance-ageddon headlines:

Man arrested trying to explain difference between mutual fund and hedge fund, sent to Bermuda

Large Corporations to be allowed to print their own money

Jim Cramer to be forced to pay back all losses viewers made on his stock picks in new finance market regulation rules to be set out later in the year...

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