Malaysian businessman and investor Vincent Tan is reportedly considering taking Berjaya Food – which owns 100 per cent of Starbucks Malaysia – private.

Tan is in discussions with banks about financing for a potential buyout deal for the company, Bloomberg cited people with knowledge of the matter.

Berjaya Food’s stock, which had lost more than a quarter of its value in the past year, jumped approximately 6.5 per cent following this news.

Founded in 2009, Berjaya Food runs operations of Starbucks, as well as other chains including Kenny Rogers Roasters and Jollibean, in Malaysia. The company was listed on The Main Market of Bursa Malaysia Securities Berhad on March 8, 2011.

Berjaya Corp, a company founded by Tan in 1984 that operates in the real estate, hotels and consumer sectors, has a 55 per cent deemed interest in Berjaya Food.

As of June 30 last year, Starbucks Malaysia had 393 stores nationwide while Kenny Rogers Roasters had 80 locations.