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 OKX shakes up Dubai’s crypto scene with new exchange Spinneys to build mega facility in Food Tech Valley Salesforce opens new Dubai office, unveils Agentforce Dubai Holding weighs new REIT amid housing boom, report says