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Private equity giant Blackstone is reportedly exploring options for its majority stake in VFS Global, the visa outsourcing and technology services firm. A potential sale of the Dubai- and Zurich-based company could value VFS at approximately $7 billion, according to sources cited by Bloomberg. VFS specializes in handling administrative tasks related to visa, passport, and consular services, streamlining these processes for government clients.
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Blackstone acquired its majority stake in VFS Global in 2022 from Swedish investment firm EQT AB, which still retains a minority share alongside the Kuoni and Hugentobler Foundation. Blackstone’s shares saw a 2% uptick to $149.58 in intraday trading on Friday, with a year-to-date gain of around 14%, reflecting positive market sentiment around the firm’s investment moves.
Why it matters
The potential sale highlights ongoing interest in the lucrative visa and outsourcing sector.