 "Essar completes sale of BPO business to Capital Square Partners")
Ruia-led Essar Group said it has concluded the sale of Aegis BPO to Capital Square Partners for $300 million (nearly Rs 2,000 crore).
This marks the exit of Essar Global's from the business process outsourcing business and now it is wholly-owned by the Singapore-based private equity firm.
Essar group has been under pressure to sell assets and repay its loans. The group had also started a process to sell 98 per cent stake in Essar Oil to a consortium led by Russia's oil major Rosneft for $10.9 billion and another $2 billion for related infrastructure assets.
The group said that
