Sale of EQT’s Swiss outsourcing company VFS stalls, say sources: Reuters

Buyout group EQT Partners is putting plans for a sale of outsourcing firm VFS on ice as suitors’ views on valuation were too far away from EQT’s expectations, people close to the matter said.

Talks on the consular- and visa-services company – seen worth up to 2.5 billion Swiss francs ($2.5 billion) – have stalled, the people said, adding that they could be revived at a later stage and an initial public offering remains an option.

EQT earlier this year launched an auction for VFS, formerly a part of travel group Kuoni and had attracted offers from private equity investors such Partners Group, Cinven, CVC, Permira, PAI and Onex.

EQT declined to comment.

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