Blackstone (NYSE:BX) is weighing options including a sale of its majority stake in visa outsourcing and technology services firm VFS Global after receiving interest from prospective suitors, Bloomberg reported, citing people familiar with the matter.
The U.S. alternative asset manager held preliminary talks with advisers to evaluate a full or partial stake sale in VFS, sources said, adding that a potential transaction could value VFS at about $7B.
Considerations are preliminary, the report noted, and Blackstone may still decide against pursuing a deal.
Headquartered in Zurich and Dubai, VFS Global is an outsourcing and technology service specialist that “manages non-judgmental and administrative tasks related to applications for visa, passport, and consular services for its governments.”
Blackstone (BX) agreed to acquire a majority stake in VFS Global in 2021, with EQT Private Equity remaining indirectly invested in the company with a minority position alongside Blackstone.
