Its headquarters is in Zurich and Dubai, it has 64 governments as clients and its operations spread across 140 countries. But VFS Global, a market leader in the visa processing business, has an Indian origin and that is in focus as the company is set for a change in ownership.
On Thursday, Blackstone acquired a majority stake in VFS Global from Swedish private equity firm EQT, pinning hopes of a rebound in global travel post the pandemic. The deal values VFS Global at $2 billion as per a media report.
VFS was conceptualised in 2001 by Zubin Karkaria, then a