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Report: EQT aims to sell visa processing firm VFS

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Report: EQT aims to sell visa processing firm VFS

EQT Partners AB is looking to sell visa application processing firm VFS in a potential deal worth CHF2 billion to CHF2.5 billion, Reuters reported, citing people familiar with the matter.

The people told Reuters that the buyout firm tapped investment bank Lazard on the sale process, expected to launch in the coming weeks, although it may opt for an IPO of VFS if markets are favorable.

EQT, which did not comment on the matter, is already in talks with other private equity firms and sovereign wealth funds on the potential sale and will release more information by late February, according to Reuters.