Blackstone Reportedly Considers $7 Billion Sale of Visa Firm VFS
According to reports, Blackstone Inc. is considering selling the bulk of its shares in VFS Global. It is a provider of technological services and visa outsourcing, in response to demand from possible buyers. In order to evaluate the likelihood of a full or partial sale, the US-based alternative asset management has started preliminary conversations with advisors.
Potential Value of $7 Billion
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VFS Global might be valued at around $7 billion in a possible transaction. Bringing in a minority investor is one strategy being considered to raise money and spur additional expansion. Sovereign Wealth Funds and other companies have expressed interest in the deal, but no decisions have been made yet, and Blackstone may eventually decide against it.
Initial Conversations
Blackstone hasn’t committed to a specific course yet, and these considerations are still in their early phases. The Kuoni and Hugentobler Foundation held a minority position in VFS Global. The business bought that from EQT AB in 2022.
International Business and Services
With its main offices in Dubai and Zurich, VFS Global is an expert in helping governments with the paperwork associated with applying for passports and visas. The company has completed around 141 million biometric enrollments. It also has processed over 294 million applications since its founding.
Blackstone’s silence over the possible sale raises questions about VFS Global’s ownership prospects. Should the agreement proceed, it may represent a noteworthy exchange in the worldwide technology outsourcing arena.
About Company
Global investment business Blackstone Inc. (Blackstone) focuses on alternative asset management. The company’s primary endeavours encompass safeguarding and augmenting capital for its stakeholders. It provides retirees and institutional investors with financial stability. These steps foster general economic expansion. Blackstone provides a wide array of investing techniques across a number of asset types, such as credit, real estate, hedge funds, and private equity. Additionally, it offers a range of insurance options. The options include risk transfer products, asset protection, and retirement security. The corporation operates throughout Asia Pacific, Europe, and North America. Blackstone’s US headquarters are located in New York City.
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