Luckin Coffee, flush with Persian Gulf cash, weighs entry into Middle East markets

SINGAPORE — Luckin Coffee is once again weighing an entry into Persian Gulf markets after securing backing from Abu Dhabi's sovereign wealth fund Mubadala. Luckin's senior management is considering expanding into the Gulf countries, Chairman David Li told CNBC in an exclusive interview on Monday. Li is the co-founder and CEO of private equity firm Centurium Capital, the controlling shareholder of China-based Luckin. "There are other markets we are currently looking at [and] potentially entering into regions like Gulf countries," Li said. Mubadala has become a direct investor in Luckin after a $1 billion joint investment with Centurium in early September, with neither side disclosing the respective stake size.