Temasek shut to purchasing 20% in visa companies supplier VFS International

Temasek Holdings Pte is nearing a deal to purchase a major minority stake in VFS International, in accordance with folks acquainted with the matter, a transaction that would worth the visa outsourcing and know-how companies agency at about $7 billion together with debt.

The Singapore state-owned investor is poised to amass about 20% in intently held VFS, which is managed by US different asset supervisor Blackstone Inc., the folks mentioned, asking to not be recognized as a result of the deliberations are non-public. Temasek and Blackstone are hammering out the small print of a deal that might be introduced as quickly as Monday, the folks mentioned. Blackstone will stay the bulk shareholder in VFS after the deal, the folks mentioned.

Blackstone has been weighing choices together with a full or partial sale in VFS after receiving curiosity from buyers comparable to sovereign wealth funds, Bloomberg Information reported on Friday. VFS has a big presence in India, the place it supplies visa software companies for the US consulate in a number of cities.