The Service of the Commission for the Protection of Competition announces that it has received a notification of concentration by Blakstone Inc. regarding the acquisition of the share capital of Kiwi VFS Sub I S.a.r.l., via Speed Bidco S.a.r.l..
Speed Bidco S.a.r.l. is a special purpose vehicle, duly registered under Luxembourg laws, which had no previous activities and which was established to act as the acquiring company for the purposes of the Transaction. Speed Bidco S.a.r.l. is controlled by funds consulted or managed by Blackstone Inc. affiliated companies.
Blackstone Inc. is a global alternative asset manager, listed in the New York Stock Exchange which operates as an investment management company and not as a conglomerate or as a decision-maker. Therefore, each company in Blackstone's investment portfolio is subject to separate management and financing and each has different investors (although investors from Blackstone's different investment funds may overlap). Each Blackstone holding company has its own management board, which often includes representatives of Blackstone.
The target in this merger is Kiwi VFS Sub I S.a.r.l. which is a company duly registered under the laws of Luxembourg. Kiwi VFS Sub I S.a.r.l. is the holding company of the VFS Group (specifically VFS Global AG and its subsidiaries). VFS Group is a company which specializes in technology and outsourcing services for visa applications (and consulting services to governments and diplomatic missions).