Funds managed by Blackstone Inc. (NYSE:BX) agreed to acquire a 75% stake in VFS Global from Kuoni and Hugentobler Foundation and EQT VII, managed by EQT Partners AB for $1.9 billion on October 7, 2021. EQT will remain indirectly invested in the company with a minority position alongside Blackstone, as majority shareholder, and KHF, as minority shareholder, will be co-investors in the company following the closing of the transaction. The transaction is expected to close by first quarter of 2022.SG Corporate & Investment Banking acted as financial advisor for EQT VII.

Mariel Hoch, Susanne Schreiber, Ruth Bloch-Riemer and Micha Schilling of Bär & Karrer Ltd. acted as legal advisor to Blackstone Inc. Till Spillmann, Adrian Koller, Daniel Eisele and Nicolas Birkhäuser of Niederer, Kraft & Frey acted as legal advisor to EQT Partners AB in the transaction. Kirkland & Ellis LLp acted as legal advisor to blackstone in this deal. Citigroup Inc. (NYSE:C) acted as financial advisor to EQT VII, a fund managed by EQT Partners AB.