Temasek is nearing a deal to acquire a 20% stake in Blackstone-owned visa application outsourcing and technology services firm VFS Global, Bloomberg News reported on Saturday, citing people familiar with the matter.
The deal may value VFS Global at $7 billion, including debt, the report said, adding that Blackstone will remain the majority shareholder in the transaction.
Blackstone, VFS Global and Temasek did not respond to Reuters requests for comment outside regular business hours.
Bloomberg News reported on Thursday that Blackstone was considering options, including a sale of its majority stake, in VFS Global after receiving interest from prospective investors.
Blackstone bought a majority stake in VFS Global from EQT AB in October 2021, with EQT retaining a minority position.
Headquartered in Zurich and Dubai, VFS Global provides technology solutions and support to governments and diplomatic missions worldwide on visa outsourcing services, according to its website.
Reuters
