Singapore’s sovereign fund Temasek is reportedly close to striking a deal to acquire a 20 percent stake in Blackstone-owned visa application outsourcing and technology services firm VFS Global.
The deal may value VFS Global at $7 billion including debt, Bloomberg reported, citing unnamed sources.
The report said Blackstone will remain the majority shareholder in the transaction.
Temasek, Blackstone and VFS Global did not respond to the Bloomberg report.
Bloomberg reported last 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.
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