(Reuters) – Blackstone (NYSE:) is contemplating choices together with a sale of its majority stake in visa utility outsourcing and know-how companies agency VFS World after receiving curiosity from potential buyers, Bloomberg Information reported on Thursday.
A possible transaction may worth VFS at about $7 billion, Bloomberg reported, citing folks conversant in the matter.
Blackstone and VFS didn’t instantly reply to Reuters’ requests for remark.
Different asset supervisor Blackstone purchased a majority stake in VFS World from EQT AB (ST:) in October 2021, with EQT retaining a minority place.
Blackstone has held preliminary discussions with advisers to guage a full or partial stake sale in VFS, and one of many choices may embody bringing in a minority investor to assist elevate money and increase progress, the Bloomberg report stated.
Concerns are at an early stage and Blackstone should still resolve towards pursuing a deal, the report stated.
Headquartered in Zurich and Dubai, VFS World gives know-how options and assist to governments and diplomatic missions worldwide on visa outsourcing companies, in accordance with its web site.
It manages non-judgmental and administrative duties associated to functions for visa, passport, and consular companies for governments.
(This story has been corrected to say promote majority stake in VFS, not promote VFS, within the headline, and to repair a narrative hyperlink in paragraph 7)