FRANKFURT/ZURICH (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 bln) - 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.
($1 = 1.0055 Swiss francs)
Editing by Riham Alkousaa