Singapore state-owned investor
Temasek
Holdings is nearing a deal to buy a significant minority stake in
VFS Global
, according to people familiar with the matter, a transaction that could value the
visa outsourcing
and technology services firm at about $7 billion including debt.
Temasek is poised to acquire about 20% in closely held VFS, which is controlled by US alternative asset manager Blackstone, the people said, asking not to be identified because the deliberations are private.
Temasek and
Blackstone
are hammering out the details of a deal that could be announced as soon as Monday, the people said. Blackstone will remain the majority shareholder in VFS after the transaction, the people said.Representatives for Blackstone and Temasek declined to comment.
