REUTERS - Essar Global Ltd said it would sell Aegis Ltd to Singapore-based private equity firm Capital Square Partners, marking its exit from the BPO business and helping to retire its debt.
AGC Holdings Ltd (AGC) Mauritius, a portfolio company of Essar Global, will sell its entire stake for an undisclosed amount, in ESM Holdings Ltd Mauritius, the holding company of Aegis, Essar said on Monday.
Essar entered the BPO business in 2004 with the acquisition of U.S.-based Aegis Communications Group.
The deal is likely to close in the first quarter of FY17-18.
(Reporting By Samantha Kareen Nair in Bengaluru)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app