Home UAE Dubai Blackstone mulls selling stake in Dubai-based visa firm VFS Global The asset management firm bought a majority stake in VFS Global from EQT in October 2021, with EQT retaining a minority position by Reuters September 13, 2024 Image credit: masterSergeant/ Getty Images Alternative asset manager Blackstone is considering options including a sale of its majority stake in visa application outsourcing and technology services firm VFS Global, after receiving interest from prospective investors, Bloomberg News reported on Thursday. A potential transaction could value VFS at about $7bn, sources familiar with the matter told Bloomberg. Blackstone and VFS did not immediately respond to Reuters’ requests for comment. Blackstone bought a majority stake in VFS Global from EQT in October 2021, with EQT retaining a minority position. The asset management firm has held preliminary discussions with advisers to evaluate a full or partial stake sale in VFS, and one of the options could include bringing in a minority investor to help raise cash and boost growth. Considerations are at an early stage and Blackstone may still decide against pursuing a deal, the report said. Headquartered in Zurich and Dubai, VFS Global provides technology solutions and support to governments and diplomatic missions worldwide on visa outsourcing services. It manages non-judgmental and administrative tasks related to applications for visa, passport, and consular services for governments. Read: We’re making visa applications as easy as booking a flight: Atlys CEO Tags Blackstone Dubai VFS Global Visa application You might also like Taxi-sharing pilot service launches between Dubai, Abu Dhabi New Dhs1bn fund targets reshaping UAE health, wellness How Dubai’s Dhs16bn mega road development plan will ease traffic Salik’s new toll gates: here’s where you’ll start paying from Nov 24