(Reuters) – Blackstone is considering options including a sale of a majority stake in visa application outsourcing and technology services company VFS Global after receiving interest from potential investors, the Bloomberg news agency reported on Thursday.
A potential deal could value VFS at about $7 billion, Bloomberg reported, citing people familiar with the matter.
Blackstone declined to comment on the Bloomberg report, while VFS did not immediately respond to a Reuters request for comment.
Alternative asset manager Blackstone acquired a majority stake in VFS Global from EQT AB in October 2021, with EQT retaining a minority stake.
Bloomberg reported that Blackstone is in exploratory talks with advisers to consider selling all or part of its stake in VFS, and one option could include bringing in minority shareholders to help raise capital and drive growth.
The discussions are still in the early stages and Blackstone could still decide not to go ahead with the deal, it has been reported.
According to the company’s website, VFS Global is headquartered in Zurich and Dubai and provides technology solutions and support for visa outsourcing services to governments and diplomatic missions around the world.
Manages non-judgmental and administrative tasks related to applying for government visas, passports and consular services.
(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Mrigank Dhaniwala and Subhranshu Sahu)
